XJO 0.18% 5,890.4 s&p/asx 200

Weekend Charting and Chat - 06 Feb 2014

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    The XJO closed higher (again) on Friday

    However, demand for higher prices was on the wane, as can be seen in the lower volume (value traded), narrowing spread, and close off the day highs.  There wasn't so much serious selling pressure making itself felt on friday, as with the lack of demand present, it could have been taken down fairly easily. It appears that there was little appetite for the upside, and the best that could be mustered was some sideways absorbtion action.

    Should some serious selling pressure arrive, it will be interesting to see at what level, price will be defended.
    So bring on some down bars , or at least one or two, as that will give some good information.

    I don't actually have any obvious horizontal resistance at this level, the next serious resistance line I have above,  is @5903.2, then @6105.6

    080215 xjo.png

    XJO Intraday Levels  ~10min, 3 point wave

    080215 XJO intra.png


    XJO 6000.png
    Last edited by Jako8557: 06/02/15
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