SPI200 Weekly Swing High Tested

Good morning traders,

Just a quick Technical analysis update today for the indices traders on our book.

I’m sure if you have any sort of indices trading watchlist on your MT4 platform, then you’d have noticed the level that the SPI200 has now reached:

SPI 200 Weekly:

Click on chart to see a larger view.

With price pushing it’s nose through it on today’s trading session, it will be interesting to see the follow through.

My motto has always been resistance has held until it hasn’t and with this being a weekly level, I’m also treating it as a zone rather than a straight line.

Play the percentages and wait for confirmation on short term retests whether it breaks out or holds.

Best of probabilities to you!

Dane Williams – Vantage FX

Risk Disclosure: In addition to the website disclaimer below, the material on this page prepared by Vantage FX Pty Ltd does not contain a record of our prices or solicitation to trade. All opinions, news, research, tools, prices or other information is provided as general market commentary and marketing communication – not as investment advice. Consequently, any person acting on it does so entirely at their own risk. The expert writers express their personal opinions and will not assume any responsibility whatsoever for the forex trading account of the reader. We always aim for maximum accuracy and timeliness, and Vantage FX shall not be liable for any loss or damage, consequential or otherwise, which may arise from the use or reliance on this service and its content, inaccurate information or typos. No representation is being made that any results discussed within the report will be achieved, and past performance is not indicative of future performance.

Share This: