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Good Morning and Welcome to the XJO Thursday Thread
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News for Today (AEST)



The XJO closed higher on Wednesday, where spread reduced a little (but was still wider than average), and volume increased.
The Index continued its acceleration higher, as it sliced up through the previous breakdown line, and a minor intra-range level.
While the narrowing spread, and increased volume does illustrate there was some increased difficulty in moving higher on Wednesday, as price pushed through a couple of potential resistance levels to make those gains, it was probably a fair thing.
Price is coming up to some older congestion to the left now, which may limit the gains in the shorter term.  However the strong momentum that has been generated, may still attempt to carry price a little higher yet.   But once this push higher becomes a bit more tired, I expect there is a good chance price will come back and test the strength of those potential resistance levels, before there is any serious continuation of this push higher.





Good Trading and Investing