Good Morning,
The SPI December 09 contract continued the extension higher on the open yesterday, triggering a responsive sell tail at 4774, that capped the advance, rotating the market lower, to support level 4727. The market took a developing (horizontal price action) stance through the session.
Overnight the initially rotated lower to key support 4716, where responsive buying rotated the market higher initially to 4746. A initiating buy tail at 4746 extended the market to session high 4763, and the market rotated within this range through the remainder of the session.
Following several sessions of distribution (vertical price action), the market yesterday and overnight took a development and balanced stance, rotating within the 4716 to 4774 range. The market on the close indicates further development within the range today.
Key resistance is at 4774/79, 4794 and prior development low 4812. Key support is at 4746, 4727 and 4716.
Resistance levels 4757, 4763, 4774, 4779, 4786, 4794, 4812, 4818, 4827
Support levels 4746/43, 4736, 4727, 4716, 4700, 4689, 4683
Value Area Levels (Source Bloomberg)
Previous SYCOM and Day Session 4708 to 4758
Overnight Session 4730 to 4753.
I will be taking annual leave, and will resume the SPI analysis on Friday November 20th.
Have a good day.
Aliom Pty Limited (ACN 123 876 291 AFSL 323182) does not warrant the accuracy, completeness or correctness of any information herein. In preparing this post, Aliom Pty Limited has not taken into account the investment objectives, financial situation or particular needs of any particular person. Before making an investment decision on the basis of information in this post you should consider whether the information is appropriate in light of your particular investment objectives, financial situation or particular needs. You may wish to consult a licenced advisor or accountant to assist your decision.
The SPI December 09 contract continued the extension higher on the open yesterday, triggering a responsive sell tail at 4774, that capped the advance, rotating the market lower, to support level 4727. The market took a developing (horizontal price action) stance through the session.
Overnight the initially rotated lower to key support 4716, where responsive buying rotated the market higher initially to 4746. A initiating buy tail at 4746 extended the market to session high 4763, and the market rotated within this range through the remainder of the session.
Following several sessions of distribution (vertical price action), the market yesterday and overnight took a development and balanced stance, rotating within the 4716 to 4774 range. The market on the close indicates further development within the range today.
Key resistance is at 4774/79, 4794 and prior development low 4812. Key support is at 4746, 4727 and 4716.
Resistance levels 4757, 4763, 4774, 4779, 4786, 4794, 4812, 4818, 4827
Support levels 4746/43, 4736, 4727, 4716, 4700, 4689, 4683
Value Area Levels (Source Bloomberg)
Previous SYCOM and Day Session 4708 to 4758
Overnight Session 4730 to 4753.
I will be taking annual leave, and will resume the SPI analysis on Friday November 20th.
Have a good day.
Aliom Pty Limited (ACN 123 876 291 AFSL 323182) does not warrant the accuracy, completeness or correctness of any information herein. In preparing this post, Aliom Pty Limited has not taken into account the investment objectives, financial situation or particular needs of any particular person. Before making an investment decision on the basis of information in this post you should consider whether the information is appropriate in light of your particular investment objectives, financial situation or particular needs. You may wish to consult a licenced advisor or accountant to assist your decision.
