Monday, May 28, 2012

Trade Guideline For Tuesday

Market traded sideways last Friday ahead of the long weekend as most traders were gone from their office, setting up a potential trending move, up or down on Tuesday, depending on where it trades in relation to key support-resistance level.

For Tuesday, key support-resistance level is 2525.
  • Above 2525 has the potential to trigger a short-covering rally.
  • Below 2525 may trigger a sharp sell-off to re-test  last week Monday's swing low.