Australian Stock Market SPI futures 22 November 2011 Daily report

Will the SPI rise up from the Weekly lows 4102 and move back towards the November 50% 4164?


Trend guide 4134 (Tuesday’s lows)

SPI Weekly and Daily range.

Weekly lows  (4102) formed support in early trading, as it also aligned with the intra-day spiral filter at the same price : 21 to 42 point rise.

The November 50% level then formed resistance @ 4164

Whilst Tuesday’s lows @ 4134 formed support.

 The SPI remains bearish whilst it’s trading below the November 50% level @ 4164.

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