Monday, 23 July 2012

Morning Updates - 23rd July 2012

Morning Traders,

Alright.. US market closed down on Friday, Dow futures are down about -40 over as of this writing. We have a few major numbers coming our namely the housing data and the advance gdp on Friday.

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What's in store for us back home?

Alright we opened at 41, then traded up to 43 right after that.

We have a few major support at 42, 36 and 30.

I wan't to see what prices do when it touches those support levels. If support holds, then I might go long there.

For now, I'm taking a look and see approach for now.

Here are your trading levels for today:

FKLI

Upper Resistance: 1647, 49, 51, 53
Lower Support: 1642, 39, 36, 33, 30

Cash Index

Upper Resistance: 1645, 47, 50, 52
Lower Support: 1640, 37, 35, 32

Trade safe all!

Best Wishes,
Tech Trader

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