January 7, 2011

SPY Support and resistance levels

CHART-II
  • Range of SPY mentioned in the below chart has broken at 127.01.
  • Next support in this time frame is the recent low at 126.19.
  • Break of this level will be negative it will fill the remaining GAP in this time frame.
CHART-I
  • SPY 30 minutes chart is showing support at 127.01 and resistance at 127.83
  • Price is also developing a consolidation pattern which will give good movement on a breakout.
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