Daily Chart
A new high after giving fooling the bears with a close below the support line of the rising wedge.Will need to redraw this line at some point. The resistance line of the rising wedge is still valid and has resistance at 1364. Bears and bulls are both on tenterhooks as the S&P500 trades one day up one day down fashion keeping both guessing ! Trade long with a trailing stop loss as per risk appetite.The current uptrend would reverse only if 1300 fails.
follow me on twitter http://twitter.com/#!/lucksr
Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
No comments:
Post a Comment