SPI Trading 14th December 2007
8:30
Market reversed down after 'gap completion @ 6661, and continued down from 5-day 50% level yesterday, hitting the 5-day lows overnight.
Weekly timeframe trend:- it's either going to close on it's lows today around the 5-day lows and Weekly 50% level @ 6557 (lower Weekly close followed by price rising upwards from a lower open next week)
Or it's going to close around the 5-day 50% level.
Simple risk filter is 6590:- 3-day lows and R44 spiral point
Posted by
Frank Dilernia