In the daily charts, the short term directional indicators
have been holding above the lows and crucial support nicely.
At the moment, sans any kind of gravity
defying news, it has turned up nicely and if chance would have it, be favourably
pushing higher or at least keeping slightly firmer.
The medium term trending
indicators although they had earlier pierced the parity line, the soft tone is
decaying quickly and if successful, would see a turning back higher this week
and successful trend change.
If that’s done, could mean a revisit of recent
highs.
The long term directional indicators are still having a tinge of
softness and dribbling lower but too closely mashed up with no clear winner as
yet.
During the past week, it has come to a much lower level and resynchronised.
So it could well easily turn around and test back higher.
The
momentum/volatility indicators are really dull at the moment and the next
couple of days will likely be non-events if left to their own fundamentals.
Interim supports are at 1224, 1316 & 1309.50 with minor
supports at 1315.50, 1303.60 & 1301.
Interim resistances are at 1339.50, 1361 & 1383 with
minor resistances at 1335.50, 1338 & 1352.
The daily/weekly trend changer points are at 1312/1241.40.
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