The SPI200 March 10 contract rotated lower off 4928 in the opening phase yesterday, trading back inside the development. An initiating sell tail triggered at 4904, and the market made a distributive break lower out of the development to close the session at 4883.
The market continued the distribution lower on the open overnight to then develop within the new price range. The market has rotated higher this morning back inside the prior development (4902 to 4941), to close at 4908.
Initial resistance is at 4916, a break opens potential for a break to 4923 initially then 4933 and key level 4941. A break at 4941 opens potential for a resumption of a distributive break higher, with key resistance at 4956/62 then 4978.
Initial support is at key level 4902, a break opens potential for a rotation to 4891/89 then 4881. A break of key level 4875 resumes the distributive break lower to 4857 initially then 4852/50.
Value Area Levels (Source Bloomberg)
Previous SYCOM and Day Session 4901 to 4924
Overnight Session Closed 4880 to 4900
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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 SPI200 March 10 contract continued the rotation extension on the re open Friday, to the session high 4929. Responsive selling rotated the market lower and midafternoon an initiating sell tail triggered at 4904 to close the session at 4895.
On Friday night the market opened to development in the 4900 to 4916 range. Of note was a midsession rejecting responsive buy tail at 4898. In the closing phase an initiating buy tail was triggered at 4917, to close at 4926.
The market closed in the midst of an initiating buy tail although remains within the current development.
Initial resistance is at 4933 and key level 4941. A break at 4941 opens potential for a resumption of a distributive break higher, with key resistance at 4956/62 then 4978.
Initial support is at 4916, a break opens potential for a rotation to 4908 initially, then 4891/89 and 4881. A break of key level 4875 resumes the distributive break lower to 4857 initially then 4852/50.
Value Area Levels (Source Bloomberg)
Previous SYCOM and Day Session 4884 to 4913
Overnight Session Closed 4900 to 4914
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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 SPI200 March 10 contract continued to trade within the development yesterday morning. An initiating buy tail at 4940 distributed the market through the development high, and responsive selling at 4947 capped the advance to rotate back in the development and close at 4933.
Overnight the market resumed the distribution higher early in the session, to a session high of 4958. The market rotated lower from here to trigger a rejecting responsive buy tail at 4918 that rotated the market higher into the close.
The market has attempted to make distributive breaks through the upside of the current development, both yesterday and overnight, only to rotate back inside the development and remains balanced. The lack of a rejecting responsive sell tail on these breaks indicates the market has not rejected the breaks with potential for further attempts.
Initial resistance is at key level 4941, then 4958. A break at 4958 opens a resumption of the distributive break higher, with key resistance at 4978.
Initial support is at key levels 4933, and 4916, a break opens potential for a rotation to 4908 initially, then 4891/89 and 4881. A break of key level 4875 resumes the distributive break lower to 4857 initially then 4852/50.
Value Area Levels (Source Bloomberg)
Previous SYCOM and Day Session 4902 to 4933
Overnight Session Closed 4927 to 4951
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 SPI200 March 10 contract rotated lower yesterday, extending to trigger a midsession responsive buy tail at 4881. The market then rotated to 4897 to close at 4891.
Early in the overnight session the market triggered an initiating sell tail at 4897 that extended to a distributive break lower. Responsive buying at 4834 rotated the market higher to 4863, to rotate lower again and trigger a rejecting responsive buy tail at 4829. Development followed and the market closed 4841.
The market has made a distributive break lower overnight, with a temporary low at the responsive buy tail level 4829 in place and development.
Initial resistance is at 4845, a break opens potential for a rotation to 4863. Key levels follow at 4881 and 4897. Key support is at 4833/29, a break opens potential for a continuation of the distribution lower, with key levels at prior development low 4815 and 4794.
Value Area Levels (Source Bloomberg)
Previous SYCOM and Day Session 4902 to 4933
Overnight Session Closed 4927 to 4951
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 SPI200 March 10 contract followed on with the development late in the previous session, yesterday. The session range was 4837 to 4865.
In the overnight session, development continued with a rejecting responsive buy tail at 4830 rotating the market higher. Following on the market triggered an initiating buy tail at 4868 extending to trigger a rejecting responsive sell tail at 4880, and closing 4878.
The market has rejected the distribution lower through the 4833/29 level, and returned to a development phase, within a 4829 to 4868 range. The market has continued the rotation higher above 4868 this morning forming a second development that has a bullish bias for today.
Initial resistance is at 4881, a break opens potential for a rotation to 4897, initially then prior development low 4902/05 and key level 4923. Key support is at 4868, a break opens potential for a rotation to 4852/50 initially, then 4845 and key level development low 4833/29. A break at 4833/29 opens potential for a continuation of the distribution lower.
Value Area Levels (Source Bloomberg)
Previous SYCOM and Day Session 4836 to 4871
Overnight Session Closed 4838 to 4863
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 SPI200 March 10 contract continued the rotation higher yesterday, to trigger a late morning rejecting responsive sell tail at 4905, capping the advance and rotating the market lower to develop through the remainder of the session in a 4877 to 4905 range.
The market continued to trade in a development phase through the overnight session, with a session range 4874 to 4899.
Key resistance is at prior development low 4902/05, a break opens potential for a rotation back into the 4902 to 4941 development, with key levels at 4923, 4933, and 4941.
Key support is at 4875, then key level 4868. A break at 4868 opens potential for a rotation back inside the 4868 to 4833/29 development with key levels at 4852/50, 4845 and key level development low 4833/29. A break at 4833/29 opens potential for a continuation of the distribution lower.
Value Area Levels (Source Bloomberg)
Previous SYCOM and Day Session 4850 to 4897
Overnight Session Closed 4880 to 4891
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 SPI200 March 10 contract rotated lower off the opening phase on Friday, to a responsive buy tail at 4840 that rotated the market back into a 4842 to 4862 development, through the session. A late session initiating buy tail at 4852 extended the market to 4886 to close 4870.
A responsive sell tail off the open at 4874 rotated the market lower in several rotations to a session low 4818. Responsive buying rotated the market higher to 4849 to close 4843.
The market attempted a distribution through the 4833/29 development low Friday night and rotated to close back in the development. The lack of a rejecting responsive buy tail at the low, indicates the potential for a retest of the level.
Key resistance is at 4850/52, prior development high, 4878, 4886 and prior development low 4902/05, a break opens potential for a rotation back into the 4902 to 4941 development.
Key support is at prior development low 4833/29, 4822, and 4815.
Value Area Levels (Source Bloomberg)
Previous SYCOM and Day Session 4856 to 4890
Overnight Session Closed 4834 to 4865
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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 SPI200 March 10 contract rotated higher off the open yesterday extending to trigger a responsive sell tail at 4909 that rejected the distributive break and the market rotated lower back into the established development. An initiating sell tail triggered at 4881 extending the rotation lower through the session to a session low of 4836 and close at 4842.
In the overnight session the market made a distributive break lower that was also rejected with a responsive buy tail at 4816, and the market rotated higher. An initiating buy tail at 4850 extended the rotation higher, to a session high 4884 and close 4879.
The market rejected distributive breaks, either side of the development yesterday, and overnight. The double distribution to the upside in the overnight session indicates a bullish bias in the short term.
Key resistance is at 4881, 4886 and prior development low 4902/05, a break opens potential for a rotation into the 4902 to 4941 development, with key resistance at 4923.
Key support is at 4868, a break opens potential for a rotation to 4852/50 initially then prior development low 4833/29. Key levels follow at 4822, and 4815.
Value Area Levels (Source Bloomberg)
Previous SYCOM and Day Session 4852 to 4891
Overnight Session Closed 4827 to 4867
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.
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