SPI CFD 4135 Technical Analysis TradingLevels: There would be a long trend trade if the 4200 became support. This doesn’t mean you couldn’t go long on 4150 as support and adding if 4172 becomes support as the 4200 and the 4172 are the current resistances. Elliott Wave: The bounce pattern over the last few days can be bearish corrective meaning more downside, or it can be the start of a move up, the structure is not developed enough, however much the same pattern is across many other markets and they seem to be corrective meaning more downside, so the bias for a trade here is short Day Trading Strategies: day trading Trade short, however if the Midpoint 4150 develops as support then the bias is for a larger corrective pattern. The 4150 has not been retested, so stops would need to be above 4172
Code: SPI CFD / ASX200 XJO Date: 19 January Chart: 20 Minute Chart Support 4230, 4250 is required as support for longs EarlyBird Report Comments: SPI CFD 4240 Technical Analysis TradingLevels: Support on 4200 is in place the SG2 4265|4272|4280 is the resistance the 4272 is the key price point, there is also an overhead trend line as resistance through this area. The 4300 is obviously a target, it is the top of MinorGroup1 and support on this level creates the break away from 4000 and puts the target at 4500. As Gann would say it’s the fourth time that the price would break through and this would be this time. Elliott Wave: Unsure of the wave count, however what I do know is that the waves up are impulse waves with corrective wave patterns to the downside so there is a trend established.
Day Trading Continue to trade long using the sublevels, today you would need 4250 as support. Thursday can open higher and trade lower. 11:30am AUD ANZ Job Advertisements m/m
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