SVI : Breakout > 3.86 points to 4.05-4.10 as the target.

SVI has the kind of day chart that has us running for the hills. Just too volatile and without a nice flow to the proceedings. Maybe the market maker had a difficult childhood?

For now, key resistance is 3.86, but it looks as if it will take this barrier out and spike to 4.04-4.10 or so, possibly very soon indeed. Entry must come with a tight stop, and is preferable much nearer 3.70 given it slides on low selling pressure. Otherwise wait for a breakout on hefty buying at 3/86, with 4 or so as the target zone.

 

 

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 )

Twitter picture

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

Facebook photo

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

Google+ photo

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

Connecting to %s

%d bloggers like this: