![]()
---------------------------------------------------------------------------------------------------------------------------------------------
Good Morning and Welcome to the XJO Thursday Thread
---------------------------------------------------------------------------------------------------------------------------------------------
News for Today (AEDST)
![]()
The XJO only closed marginally higher on Wednesday, after being much higher earlier in the day.
Spread narrowed slightly, volume increased to a little above average, and the close was poor.
Soon after the open, price responded positively to the potential two bar reversal (shakeout), and pushed up to the highs of the trading range.
After lunch the index began to give up some of the gains, and eventually found itself flirting with a negative finish near the close of trade.
Individually, Wednesdays bar has all the hallmarks of an impending failure - Price failed at the potential resistance of the supply line of the trading range, the close was poor, and volume was above average. However, the Index will need to see downside follow through for confirmation.
It should also be noted that there have been two bars recently (arrowed in green), which at the time, also suggested "the gig might be up", but there was no downside follow through, the bar that followed each time did not fail, and infact both together (each time) inferred a (potentially bullish) absorption of supply.
![]()
![]()
Good Trading and Investing
.
![]()
- Forums
- ASX - By Stock
- XJO
- Stress Management - Thursday
Stress Management - Thursday
-
- There are more pages in this discussion • 39 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add XJO (ASX) to my watchlist
|
|||||
Last
8,071.1 |
Change
26.000(0.32%) |
Mkt cap ! n/a |
Open | High | Low |
8,045.1 | 8,085.0 | 8,045.1 |
Featured News
XJO (ASX) Chart |