SPI Daily 24th January 2011 daily recap

As per Weekly report, my view is that this week will try and start with a 2-day reversal upwards based on 2 patterns.

Today's trend guide and support @ 4740

Target 4774

SPI Weekly and daily range.

SPI choppy in early trading, as it traded below support, as 4747 was trying to push price down.

However, the upward bias was based on a number of patterns… Weekly 50% level, Friday’s support @ 4725.

It just needed to clear 4747 for the market to continue towards the next spiral high @ 4770 and the target @ 4774. (random resistance)

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