After a tentative start to the trading day, the XJO finally closed modestly higher.
Volume increased, but was not particularly strong (a little below average overall).
Selling pressure (supply) continues to be moderate.
Price did eventually push above the minor resistance line @5883.3 and appears headed up to the next level above (@ ~5950).
Apart from a couple of questionable trading days (which subsequently turned out to be pretty innocent), since the 26th October - supply has generally eased, and demand has generally increased, which is a positive.
Finally, while I am not a 'big fan' of geometric patterns, it does appear like the market may be building an "inverse head and shoulders" right now, which is potentially bullish. It just needs a right shoulder to be completed, and then a break of the neck to be in play.......
cheers
- Forums
- ASX - By Stock
- Really Fat Pizza
XCL
australian commonwealth government loans
After a tentative start to the trading day, the XJO finally...
-
- There are more pages in this discussion • 707 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add XCL (ASX) to my watchlist
(20min delay)
|
|||||
Last
0.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $0 |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |