Really Fat Pizza, page-885

The XJO closed higher today, where spread was about average, and volume was really good for a Monday.
After Friday's very high volume, I was anticipating some consolidation early this week in response, and that was exactly what we got....
...and the period of consolidation was all done and dusted after about an hour....
...that was it !!
Supply was obvious low as price came back, and buying pressure was really quite strong.
So price quickly turned around after an hour of trade, and the market pushed steadily higher for most of the day.
Price has traded through the entire range of the potential resistance zone last Thursday.  So I expect this will have severely weakened any resistance that remains, and any serious effort will push price through with relative ease.
The next higher resistance zone is marked on today's chart - and I think it coincides with one of the PnF counts I mentioned a while back (i'll have to check).


cheers

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