SPALI : Technical target at 13.20
May 1, 2011 Leave a comment
SPALI’s day chart gives us hope of a rally to 13 or so in the near term, with entry at 11.70 or so worth a look. The inverted head and shoulders pattern on the chart is unlikely to fail this time, and for those not already long consider entry at 11.70 or even slightly higher, with 13 to 13.20 the first main target zone.
Last year’s high was 13.50, and there is a reasonable chance this level will be bettered in coming weeks – with a move to 14.20-14.50.