Treggs,Well time to submit my tip - which is 3501.Looks like...

Treggs,

Well time to submit my tip - which is 3501.

Looks like good timing with today being the last day to submit. Tonight IMO is probably the big night in terms of determining whether we a) rally into end-Dec or b) drop to a new low/double bottom.

If I'd assumed the US will rally from the present key support levels tonight then my tip would actually be 3950-4000, however I think a break down is more likely tonight which completely changes the outcome.

Now where we're at at the moment is a very major support level as its a channel edge on the weekly chart.

I'm seeing enough signs at the moment to suggest that we are probably not going to hold this level. Assuming we don't, then based primarily on price channels I think we'll fall quickly to the bottom at about 2800-2900. Then the bounce will take us back to close the month at the current channel edge at 3500.

As ITK has already got 3500 I'm going for 3501 then.

Now if the US decides to rally tonight (ie. holds support) then you can probably throw my tip in the bin lol.