The XJO closed higher on Friday, where spread was wide, and volume was below average, which suggests that price rose easily on reduced selling pressure. The close above last Wednesday's high is positive, and price is now back near the centre of the sideways range.
It appears the Index saw a change in behaviour around mid August, and price has drawn out increased supply since that time.
So far the Index has been able to absorb that supply, and has found enough demand to remain within the sideways range.
cheers
The XJO closed higher on Friday, where spread was wide, and...
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Last
7,959.3 |
Change
69.700(0.88%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,889.6 | 7,969.1 | 7,889.0 |
| XJO (ASX) Chart |