IIFT Daily Note with Peter Brown

Need to find support levels

Posted by:  |  Time: 7:44 am  |  Topic:
Trading Is At Your Own Risk - Read Our Terms & Conditions

Another test to the top side on the Euro yesterday at 1.3170. Nothing else rallied. Market is tired and sold off late last night. We still have a bullish bias and now need to find the levels to buy.

Euro is well supported at 1.3080 but I would like 1.3030 area to buy.

S&P has support at 1450 but again 1440 would be a better level.

Gold has corrected well and 1740/45  is good support.

Negative mood around this morning on European car sales and US market close.

Give the market an hour to set the tone we may correct some more, down to attractive buy levels.

Comments are closed.