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Good Morning and Welcome to the XJO Tuesday Thread
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News for Today (AEDST)
The XJO closed lower on Monday, where spread was again a bit narrow, and volume was especially low, even for a Monday.
In response to the two questionable high volume bars from late last week, price dipped lower from the open, and effectively offered the upper hand to any sellers, to see how much supply would be drawn out. And the result was a narrow spread and quite low volume, which suggests that very few sellers emerged, and saw price eventually close back within the range of last Friday's bar.......although only just.
So the expectation remains towards the upside, however I do note that price maybe vulnerable to a supply or news event, until it is able to show sufficient strength to accelerate away from the danger zone.
Good Trading and Investing
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