IIFT Daily Note with Peter Brown

Testing support

Posted by:  |  Time: 7:45 am  |  Topic:
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We had a quiet day yesterday after last Thursday and Friday action. There was a sell off at close and we tested support. We are heading for the ESM ruling on Wednesday and the market is unlikely to do much until then.

Support came in at 1.2750 for the Euro resistance is at 1.2825 

The S&P hit the 1420/25 support level after failing at 1436

Gold sold off to 1725 resistance is at 1740

Market looks set between these ranges for today, bias is to the topside.

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