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Technical forecast for SXF

By () · August 2, 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 bounced from support at the 100 day moving average at 711.80 to beat resistance at 719/720. If we can hold above here now look for a retest of yesterday’s high at 722 before resistance at 724/725. Short term outlook is more positive as we recover from an oversold position & so a break higher could then target 728/729.

Support at the 200 & 100 day moving average at 713-711.60 then Fibonacci support at 710.30 & we should see a buying opportunity within this area.

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