Tortilla Chip Wednesday

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Good Morning and Welcome to the XJO Wednesday Thread

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News for Today (AEDST)




Well, that was a pretty average looking bar, right where price has failed previously, not a good look......

Anyway - The XJO closed lower on Tuesday
Spread increased again slightly, volume increased to a little above average, and the close was poor.
Price did rally for a while, but it eventually lost all of those gains and moved into negative territory.
Although price has not failed yet, and won't until Monday and Friday's lows are taken out,
it does appear that price will pull back now, so the more important question is,  how deep will the pull back will be ??
The lows of the old trading range (4909.6/4928.3) being the first port of call should the reversal complete.









Good Trading and Investing

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