Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
-The 50% retracement of the advance from the Sep 2012 low proved strong support indeed and the market has blasted through resistance from former lows and the line that extends off of the Sep and 10/16 highs.
-The advance is impulsive. A corrective decline would offer the opportunity to turn bullish. Estimated support is 10440/50 along with the top side of the broken trendline.
Trading Strategy: Flat
LEVELS: 10393 10450 10479 | 10510 10550 10580
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
To contact Jamie e-mail firstname.lastname@example.org. Follow me on Twitter for real time updates @JamieSaettele
- Finance Trading
- Basic Materials Industry