S&P/ASX 200 maintained moves above 4200 and as I was expecting it gives flat movements around 4300 level. Right now it is maintaining 4270 support level and there is a chance that it may drop from this level, in that case 4200 may be the good support level. If S&P/ASX does not turn around from that level and if it drops more then as I said in last week 4150 (or near about 4120-4130) will be its next support levels. Here I must say that I will be worried about the downside or any bearish pattern when it breaks 4050 level.
Last two days were not good, in spite of that if S&P/ASX maintained around 4270 level in early days then it will try to test 4350 level but that may not easy. On the other hand if it rebounds from 4200 level then it will again try to test 4300 level in later days.
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