Space Exploration Wednesday

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Good Morning and Welcome to the XJO Wednesday Thread

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News for Today (AEST)




The XJO closed lower on Tuesday
Spread remained narrow, volume increased, and the close was about midbar
The Index dipped lower on Tuesday, but did not break below the lows of Monday's bar at any time, and eventually closed well off the daily lows.
It appears price was in absorption mode again on Tuesday, with little selling pressure coming in, but no serious demand either.
As mentioned previously, there are multiple levels of potential resistance just above the current price, between 5450 and 5500, which will most likely need an increase in volume (as effort or force) to push through.  And volumes have been relatively low for some time now.
So unless the market can summon up some decent demand, one or more of the levels above will most likely cause some difficulties.
This leaves a 'generally sideways' consolidation as a high probability if volumes remain below average, or pull back to test the strength of previous support should supply increase.









Good Trading and Investing

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Spoiler : ***Warning - Saucy Cartoon***