The XJO closed lower on Friday. Spread narrowed considerably,...

The XJO closed lower on Friday.
Spread narrowed considerably, volume reduced, and the close was low.
This bar was fairly similar to Wednesdays bar this week, except that Wednesdays bar had fairly high volume, which suggested that there was an element of support (buying) in the market, and price confirmed that with a rise on Thursday.  Now Fridays bar is similar to look at, but has below average volume, suggesting that selling pressure was low.   And price could respond positively to that on Monday, however,  this type of bar probably has a higher failure rate, and a failure here would infer weakness......no doubt.
Anyway, if price does fail, it did so at a fairly logical level, where price had failed a number of times previously.
That said, price still remains within the body of Thursday's bar, and for things to turn over and pull back, price would need to breakdown and close below Wednesday's and Thursday's lows (which would also mean price would break below the old trading range again.......).