S50H11 : If 680 fails, then wait nearer 668-670

S50H11 is just holding on to a key Fibonacci support at 680 or so, and will need to close the day above 684.50 if it is to shrug off negative news and set itself up for another test of 700 or so.

We are however going to wait and see what transpires over the next few hours, because a major battle in Libya could see 670 hit on the TFEX futures, at which price a re-entry punt will be worth consideration.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: