Pivot 1073 favours Long trades with Resistance at 1089 (1Feb) and support at 1071 (29Jan). Daily average moves of 19pts givess TRADING range between 1071-1090. 61.8% retracement of the fall from 1150 (19Jan) to 1044 (5th Feb) gives a target 1110. 10ema(1078) may act as resistance or support depending on move on Tuesday. Weekly range 1070-1110.
50ema(1043) is providing support with 10ema(1091) and 20ema(1089) acting as resistance. Macd is rolling over indicating the BULL rally fom March 2009 is over. Stocastics are beginning to turn supporting the last 5 days rally which may end next week, before the next leg down into a Low in March around 990-1020.
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