SPI Futures 20th April 2012 Daily Recap

The SPI is caught between two Weekly levels @ 4358 & 4389....and is also caught between the two daily levels @ 4359 & today's potential resistance @ 4378

My view is that price will try and move downward, 4378 resistance with the inital move down 21 points towards 4359.

If the market opens closer to 4359, then the initial move could be 21 points up into 4378.

SPI Weekly and Daily cycles

Early down move into 4359....
as 4359 forms support and pushes the SPI upwards into the close.

Tight trading day between the levels, without reaching 4378

Weekly report out tomorrow