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Good Morning and Welcome to the XJO Friday Thread
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News for Today (AEST)
The XJO closed higher on Thursday, where spread increased, but volume reduced to below average, and the close was a little of the day's high.
The wider spread suggests the lower volume may be more a lack of selling pressure, rather than a lack of demand, although with price right at the previous breakdown line, it may need a bit more 'oomph' than that, to successfully hold above that level in the short term.
That said, the late close off the daily highs infers some supply began coming in, which is pretty much expected at this level.
A previous breakdown line is where a failure may occur, so keep an eye out for any serious weakness creeping in....or a reversal being engineered.
Good Trading and Investing
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