The XJO closed lower on Thursday, where the market continues to...

The XJO closed lower on Thursday, where the market continues to appear like a slow and steady period of absorption to move higher, is the order of the day.   Although the Index lost some ground today, price closed comfortably within the range of the previous bar, and the reduced spread on a similar amount of volume helps to confirm the underlying positive sentiment in this market.
So once again, no too much damage was done on a day where price closed lower.
There is still no obvious supply being drawn out, and as usual watch for the response tomorrow to help confirm the absorption theory.


cheers

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