Sunglasses Tuesday

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



The XJO closed higher on Monday, where spread was almost average, and volume was below average overall (but OK for a Monday).
The Index initially pushed higher, but failed to hold most of the gains into the close, leaving a poorly closing bar.

A sideways closing bar that dips lower and then recovers would not surprise here, as there is some chance it is an absorption bar of some sort.  
But the main thing to watch for today is for any downside follow through in response to Monday's bar, particularly in relation to the SR lines below, as a clear break and close below those lines would place a negative influence over the chart.  Whereas a bar that briefly dipped lower with a narrow spread, and recovered to close about level, would be much more positive.......potentially.  And a pretty standard upbar would suggest that Monday's bar was indeed just sitting there absorbing supply.  Overall it will just be some more information we can add to the unfolding story on the chart........





Good Trading and Investing