The high round figures have not been taken easily in the past and the same is happening now at 3200 levels.
Whether this is an eccentricity of the numbers, or a quirk of the collective psyche, the truth is its this synchronous pattern that fuels technical analysis.
Its quite likely that leaving behind an important landmark entails much confidence building where nerves are strung tight.
The volatility in the markets and in the a/d ratios is a typical example of erratic behaviour where unwinding speculative positions in both directions go on intermittently.
More of this is likely to be witnessed going in today.
Lower levels may get tested, but decisive triggers should remain intact.
Thats pretty much it.
For a smoother ride, the line to command is 3204-3207-3210 to begin with.
Then 3214-3217-3219-3222.
3226-3230-3234-3238 appear distant, but are in the range theoretically.
Supports are 3200-3197-3194-3191-3188-3185-3182-3179-3176-3173.
3261-3157 seem strong.
Whether this is an eccentricity of the numbers, or a quirk of the collective psyche, the truth is its this synchronous pattern that fuels technical analysis.
Its quite likely that leaving behind an important landmark entails much confidence building where nerves are strung tight.
The volatility in the markets and in the a/d ratios is a typical example of erratic behaviour where unwinding speculative positions in both directions go on intermittently.
More of this is likely to be witnessed going in today.
Lower levels may get tested, but decisive triggers should remain intact.
Thats pretty much it.
For a smoother ride, the line to command is 3204-3207-3210 to begin with.
Then 3214-3217-3219-3222.
3226-3230-3234-3238 appear distant, but are in the range theoretically.
Supports are 3200-3197-3194-3191-3188-3185-3182-3179-3176-3173.
3261-3157 seem strong.