Stop and Smell the Roses..... - Tuesday

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Good Morning and Welcome to the XJO Tuesday Thread

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News for Today (AEST)
(a bit more than yesterday....)






The XJO closed just above the 5980.8 horizontal resistance line on Monday.
Last Monday the Index left behind a spring (circled) of the 30th March low, and after a test of the spring on Wednesday last week, it has responded quite well, and accelerated higher to the top of the recent trading range.   And this Monday the Index has left behind the highest daily close within this trading range.   Volume (value traded) was quite high for a Monday, so a test of supply is a reasonable possibility at some point this week, possibly today.







The Monday closing, five day chart shows a potentially bullish reversal bar which has closed above the high of the previous bar.   The previous bar also left behind a spring (circled) of the prior minor low (marked), which could also be seen on the daily chart.   The momentum generated now should really carry this higher now,
however trading within this range has disappointed before, and failed to follow through,
so we'll see how it goes over the next five days...... this is the best chance to breakout so far though......

















Good Trading and Investing


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