Good Morning and Welcome to the XJO Thursday Thread
The XJO closed lower on Wednesday. where spread and volume were about average.
The Index looks vulnerable again, and maybe poised to breakdown -
- so if it does not breakdown, and instead 'magically' reverses and holds on, we'll have to suspect there is continuing support adjacent to the previous lows (from early February), and that it is relatively strong (at least for now).
- or if price does breakdown, be aware there are only two longer term levels below, that are relatively close to the current price, at ~5650 & ~5600, and after that there are only a few of minor levels, until ~5200
So what happens around these levels over the next period, is likely to be quite important.
So watch out for any 'Smoke and Mirrors'.........
Good Trading and Investing
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