Ride the Bull - Friday

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Good Morning and Welcome to the XJO Friday Thread

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News for Today (AEST)





The XJO clawed back some of Wednesday's losses, and closed higher on Thursday.
Volume reduced as price rose (which is a good thing), but spread narrowed (not so good...), and the close was at the day highs (which is also positive).
Price has again found some support at the recent lows, and has re-entered the apex (at least temporarily).
However, this is the fourth time the Index has tested these levels,  & eventually the demand here will become exhausted and price will breakdown, unless it can accelerate away with confidence and intent.  It also needs to be said that this 'little two bar reversal' is potentially the weakest seen down at this level so far (at least on paper), although it does have a couple of redeeming features as well, so we'll see how it goes.......
My bias overall, remains as "sideways to down" , until something bullish occurs (a break through 5300 and a re-test from above, would probably do it.....)

Spoiler : *****Warning - Airport Security Humour *****

Good Trading and Investing

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