Paranoid - Tuesday

Good Morning and Welcome to the XJO Tuesday Thread

News for Today (AEST)





The XJO closed a little lower on Monday,
spread increased over the last two bars, the close was above midbar, and volume (value traded) was low.

The opportunity was again offered to the sellers on Monday, and again it was not taken.
Mondays close is now level with last Wednesdays close, and the last four closes are with in a relatively narrow range of 11 points.
A tight clustering of closes like that often infer absorption of supply.

The Index pulled back early in Mondays session and came within four points of testing the April high (dotted line),  before reversing.
I have mentioned a few times the probability of a pullback & retest of the potential breakout,
this may be close enough....or maybe not.....we'll see....
I must admit I considered a somewhat deeper pullback than this may be a possibility, as it is quite shallow so far, however, a positive response higher would now not surprise.

Spoiler : ***Paddo's Special***

Good Trading and Investing


cheers