Supports: A break below 4987 (yday's low) can bring 4965-4948 immediately & 4928-4900. 4900 really holds the key. A close below that can very easily bring 4858-4760 previously discussed.
Resistances: We are still in correctives on 15 minutes chart and 5071-5115/19 is the biggest hurdle. Immediate resistance lies at 5038. There would be number of halts on both sides and my prediction is the movement will be slow and choppy for the day. Short after a handsome rise can be a ploy to trade. Supports are also seem to be working as well for intra small moves on upside.Sunday, October 25, 2009
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