Neutral was absolutely the right thing to have as a bullet point last time...even if it was as I wrote then
...to see how the market copes with testing the MAs as support.
There were some interesting features nevertheless. The close below the 50% Fib at 416 7/8 on the 13th (contact changeover?). The Key Reversal Down on the 20th and the subsequent follow through. However, the most interesting has to be last Friday's KR Up! This coming as it did up off the Medium MA support (currently 417 %). I would be very interested to see if we have follow through upwards on Monday and if the rally can get above the combined high and 50% Fib based around 441 5/8. With MAs as they are I feel obliged to maintain a neutral bullet point above. Support is currently at 424, 422, 417 % - 416 7/8, 414, 412, 405 % and 399 34. Resistance is currently at 428, 432 34, 441 5/8, 444, 456, 461 and 464.
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