October 17, 2014

Weekend update

Current trend is down and will reverse to buy on close above 8000 (more strength above 8200).

Option writing points to resistance at 8000.

EOD charts

Markets close below 7800 for 2nd consecutive day. Unable to cross resistance intraday.

Weekly charts

Trend is up and will reverse on close below 7450 spot.

Intraday charts show resistance at 7820 spot... this level was mentioned yesterday.

Support turning to resistance is very clear on hourly charts

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