Single Task Thursday

Good Morning and Welcome to the XJO Thursday Thread

The XJO (again) dipped lower from the open, and eventually recovered the lost ground, to close marginally higher by the close of trade.
While price may appear to be a little vulnerable at this level, it is banging up against an expected resistance level.
So at this stage I reckon there is a pretty reasonable chance it is undergoing absorption.
For me, the Index does not seem keen to breakdown here, and looks more positive than negative.  That said, i'm sure it would do so in sympathy with overseas markets, if it needs to.......or will pull back to some degree if the selling pressure is ongoing, or becomes overwhelming.



Good Trading and Investing