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Good Morning and Welcome to the XJO Friday Thread
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News for Today (AEST)
On Thursday, the XJO made a positive ( if somewhat muted) response to Wednesday's potentially strong bar.
Spread narrowed as price moved lower soon after the open, but the lower volume suggests that supply (selling pressure) was low,
and the result was that the Index appeared to float higher and recover the earlier losses, to finally close a little higher.
Since the Index washed out the earlier lows and put in that (slightly weird) bespoke three bar reversal, almost all of the price action has shown a positive nature. Price is quite near the top of the trading range and has touched the lines of potential resistance there twice recently, without really ever threatening to break through. It appears that price may put in another attempt (or touch) at this level, but whether this will be a serious challenge and potential breakout of the trading range, remains to be seen.
Good Trading and Investing
.
it's a bit weird that the bull is running down to the lows ??
oh well......who know's what the cartoonist was thinking......
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Last
8,580.1 |
Change
-9.100(0.11%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,589.2 | 8,619.8 | 8,568.2 |
| XJO (ASX) Chart |