Good Morning and Welcome to the XJO Monday Thread
News for Today (AEDST)
The XJO closed lower again, on Friday.
Spread narrowed considerably, and volume (value traded) reduced to below average.
This infers that selling pressure was not particularly strong on Friday.
The Index looks to be building a little congestion zone now, between the early February highs, and the horizontal line @5903.2,
as it makes a reasonable attempt to consolidate the gains made recently.
Downside pressure continues to remain light, with no obvious reason for the Index roll over substantially.
Sideways to Up is the highest probability in the near term,
and it would need a break and close below last Thursday weeks low (5739.8) to give a bearish bias to the Index.
Good Trading and Investing
.
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