SPI200 Weekly Swing High Tested

Good morning traders,

Just a quick Technical analysis update today for the indices traders on our book.

I’m sure if you have any sort of indices trading watchlist on your MT4 platform, then you’d have noticed the level that the SPI200 has now reached:

SPI 200 Weekly:

Click on chart to see a larger view.

With price pushing it’s nose through it on today’s trading session, it will be interesting to see the follow through.

My motto has always been resistance has held until it hasn’t and with this being a weekly level, I’m also treating it as a zone rather than a straight line.

Play the percentages and wait for confirmation on short term retests whether it breaks out or holds.

Best of probabilities to you!

Dane Williams – Vantage FX

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Source: Vantage FX Blog