Temptation and Conscience - Wednesday

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Good Morning and Welcome to the XJO Wednesday Thread

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News for Today (AEST)







After two trading days where price sliced lower with a wide spread, but recovered both times to close mid bar, and where volume (selling pressure) had reduced each day to very low levels.  The XJO responded strongly on Tuesday and accelerated higher, buying up any available supply that remained at these levels on its way to a high close.   The upside acceleration did stall almost exactly at the 200sma line (not shown), which is always an important  area on the chart for price to overcome. The horizontal overhead resistance drawn across the early March lows @5606.7, is also an important line for price to negotiate if it is to continue higher.  A successfully recovery of both these levels would go a long way towards confirming a change in intermediate trend.
















Good Trading and Investing


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