SPI Daily 28th March 2011 RECAP

If we follow the higher timeframe resistance @ 4772, then the trend bias is down towards the Weekly 50% level @ 4713

First target daily 50% level



SPI Weekly and Daily range

As per Weekly report, last week’s price action is seen as a retest of the breakout, with the expectation that price will try and push lower over the next 5-days.

Today’s trading remained below that resistance level, but failed to continue towards the Weekly 50% level.

Instead it remained choppy around the daily level @ 4753


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