Pig Day - Thursday

Good Morning and Welcome to the XJO Thursday Thread


Unsurprisingly the XJO closed lower on Wednesday, where spread was not particularly wide, and price did not close below the low of Mondays bar.   So in response to the increased supply drawn out on Tuesday, price pushed lower from the open, eventually closing near the days low.
Volume increased again, which combined with the low close does offer a small chance of an immediate reversal (which is unlikely, but is always possible).   As mentioned yesterday, I feel it is quite likely price will come down and test the strength of the purple breakdown line (below) in the near term, as it is quite an important line, and possibly even the green lines below that if support cannot hold on at the breakdown line.








Good Trading and Investing