SPI futures Australian Stock Market 31 October 2011 Daily recap

If it opens below 4346, then the trend bias is down into 4314, which is seen as a random support zone, and price could move into a consolidation pattern for a number of hours.

As part of a move towards the 50% levels @ 4298, and could go as low as Thursday's highs @ 4279

SPI Weekly and Daily cycles.

Early selling down into 3414 and then a precise 42-point rise upwards…

And then more weakness into the close, as price reverses back towards the Weekly level @ 4298, and as low as Thursday’s highs.




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