The XJO closed marginally higher on Wednesday, where price...

The XJO closed marginally higher on Wednesday, where price remains right up at the top of a tight range.
Spread was narrow and the volume reduced.
This is the sixth day where the Index has moved sideways, all with very narrow ranges.
The market showed a inability to rally, and a potential lack of demand today.
Often price will expand substantially after a contraction like this (note- the move can be in either direction).
Generally by now the market would have accelerated higher in response, this lack of demand increases the 'chance', the market will pull back or shake out....or something.


cheers

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