SPI Daily 8th July 2011 recap

The market is once again above the Weekly levels @ 4592/95, therefore there is a view that the market is rising upwards...

Today's ideal pattern would be a 21 point down move from open into 4595/97, and then the trend continues higher for the rest of the day.

 

SPI Weekly and daily range

The SPI sold down on open 21 points, and then it has risen for most of the day….

This was helped by a shift in the daily level @ 4598, along price trading above the Weekly level of 4592.

However, I expected more buying from 14:30 onwards, when the market started to consolidated above Friday's highs @ 4632....

As part of a move towards 4675 (Weekly highs)






Posted by