The XJO closed lower on Wednesday, where the market...

The XJO closed lower on Wednesday, where the market unsurprisingly tested for supply in response to Tuesdays upbar.
Spread narrowed as price moved lower, and while volume was reduced, it was not as low as might have been expected (note- the market rarely acts in a 'text book' manner).  That said, the reduced spread and midbar close does suggest that the market was pretty comfortable to absorb the supply drawn out today.  If trading conditions are favourable on Thursday, the local market appears well placed to issue a decent challenge to the line @6051.1 (arrowed)


cheers

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