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Technical forecast for SXF

By () · July 31, 2013 · Comments Off on Technical forecast for SXF
Futures · analysis, binary option, buy sell, candlestick, charts, day trade, day trading, down trend, fibonacci, forecast

S&P/TSX 60 took a dive just as we noted being overbought on the daily chart & warned of risks for a sell off this week. We hit our buying opportunity perfectly at 720/719 to bottom exactly here. A bounce is unlikely to go too far with resistance at 724.70/90 but above here look for a selling opportunity at 728.00/20.

Good support at 720/719 could hold the downside again today but longs need stops below 718. A break lower cannot be ruled out and could target support at 715.70/60 then a buying opportunity again this week at
710.80/30.

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