Stating the Obvious - Thursday

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Good Morning and Welcome to the XJO Thursday Thread

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News for Today (AEST)






The XJO received a right royal spanking on Wednesday, closing lower by 134.3 points.  It sliced down through the potential support of the trading range lows, in response to Tuesdays potentially bearish bar, with a wide spread and as expected, an increase in volume (value traded).  Wednesdays bar looks to be a clean breakdown of the trading range (which will now most likely offer resistance to the upside) and a pull back of some sort should now be expected, and the depth and duration of a pull back can often give important clues to the underlying strength within.






Instead of the Wednesday closing, five day chart,
which just shows a clear breakdown through the lows of the previous trading range,
with a widespread downbar which closed on its low.......as would be expected.

I thought I would show the 'normal' XJO weekly chart, even though the last bar is not complete yet.
As it shows all the previous levels which may offer support to a fall in price.
















Good Trading and Investing


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