Topix Forecast for 3rd June 2013

topix

Topix daily chart still looking negative but we should find good support at 1097 this week. We could hope for a bounce but need stops on longs below 1090 for next support at 1078. Exit shorts & try longs here with a low for the week likely.

Resistance at 1134/36 today could hold the topside. However a push higher could then target 1152 where it may be wise to exit longs & try shorts with stops above 1159 as we look for a high for the day here.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More