Monday, November 12, 2012

Trade Guideline For Tuesday

Second consolidation day on Monday. The pattern from Friday to Monday is a contracting triangle, looks ready to breakout.

Key Levels for Tuesday are 2590 as resistance and 2575 as support.
-- Breaking above 2590 resistance could potentially trigger a short-covering rally, targeting 2610 then 2630
-- Below 2575 target Friday low. A sustained break below Friday low could trigger another round of liquidation decline