SPI Futures australian Stock Market 26th October 2011 Recap

there is a possibility that price moves upwards today, and retests resistance levels @ 4218.


That could happen once the first 21 point range has completed down @ 4168


4218 is seen as resistance, but above & the next level is 4252

SPI Weekly and Daily cycles

Early move down into 4168 (21 points) and then a reversal up towards the Weekly level @ 4218.

This was seen as resistance, but then the inflation report came out better than expected.

The market rose on the new above the first resistance zone @ 4217-18, and up into the next @ 4252

 



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