SPI Daily 19th November 2010 recap

The market is currently trading below the Weekly 50% level, so there is a possibility that Friday closes lower.

Trend guide 4670

resistance 4687-96 (24 hour levels)


                                                           SPI Weekly and Daily range.

Early rise upwards from 4671, which closed the Gap to Tuesday’s lows @ 4688, and also hitting resistance levels in the 24 hour range.

Once the market reversed and closed below 4671 the trend bias was to move back down towards a lower Friday close.

Market is currently being supported around the Weekly level @ 4631…

With the expectation that price is trying to move lower towards 4571-82

Weekly report out tomorrow.




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