Good Morning and Welcome to the XJO Wednesday Thread
News for Today (AEDST)
XJO ... persistence little bugger ! - TANOTFA
Yep, I can only agree with that.
The XJO was only marginally lower on Tuesday, again it dipped lower only to recover and close back near its day high.
Volume (value traded) was increased over Monday, but below average overall and combined with the price action infers support.
Friday, Monday & Tuesday's bars all suggest the market will attempt to move higher in the future, although there is potential resistance immediately above.
Recently I have projected short'ish term targets of ~5550 as a high, and ~5150 as a low, however it seems the index is happy to sit between the two and 'generally' move sideways.
It appears there is little demand in the market to take it higher right now,
and no serious supply to take it lower either.
A Rock and a Hard Place comes to mind.
Something will turn up to break the deadlock soon, I'm sure.
Good Trading and Investing
cheers
out by three - wednesday
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Last
7,931.7 |
Change
-39.900(0.50%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,971.6 | 7,971.6 | 7,902.4 |
| XJO (ASX) Chart |