Australian Index (SPI) Futures
DOW and S&P Index Futures
US Dollar INDEX, AUD/USD, EUR/USD, GBP/USD
- Daily Trading Set-ups & Analysis
Daily lows on Tuesday weren't going to hold, as a last week of the 3rd month will more often than not trend downward into the Monthly lows.
This was set-up with Monday's price action and Weekly 50% level resistance.
Possible 3rd Quarter target as far as 9124 (Yearly 50% level)
Last Week's reversal pattern below the June 50% level and this normally leads to a continuation of the trend during the 2nd Quarter and extension down into the 3rd. (July's lows)
Today:- Early support and a rise upwards of 42 points.
That extended the early move, but once the market closed back below 4380 the bias was to follow the larger trend down towards the daily lows @ 4326