In the daily charts, the short term directional indicators
are still poised upwards and keeping just above the 50% mark and still a long
way off from the overbought zone and could enjoy a nice rally if it suited.
The
medium term trending indicators are faltering at the parity line but that is a common
strategy used to shake out the weak longs.
The long term directional indicators
are have gone into cold storage for now as it needs some time to work out it’s
next direction and signal.
The signal can only happen usually in 2 weeks in a
quiet market or a violent happened in the interim.
The momentum/volatility
indicators are showing only the faintest of a pulse to indicate that it’s still
alive.
However there is gentle bias, just confirmed yesterday, that it could
potentially hold and head higher.
Interim supports are at 1330.50, 1327 & 1319 with minor
supports at 1315.50, 1303.60 & 1301.
Interim resistances are at 1367, 1385 & 1406.50 with
minor resistances at 1352, 1380.80 & 1386.25.
The daily/weekly trend changer points are at
1315.30/1241.40.
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