The XJO pulled back a little to close modestly lower on Friday.
Spread reduced and volume was about average.
The price action continues to suggest (bullish) absorption is likely to be taking place.
There are a couple of breakdown lines overhead, I expect some increased supply will be drawn out if price challenges those levels.
Any pullback would likely see an initial attempt to support the market around 5806
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- XJO Weekend Charting and Chat - 20th April 2018
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