Dilernia LevelsThe XMJ has almost reached its monthly resistance...

Dilernia Levels

The XMJ has almost reached its monthly resistance at 12651. BHP Weekly R at 42.27 Monthly R at 42.79. BHP should stall around these levels until end of week when support will move higher.

RIO Weekly R at 75.06 Monthly R at 77.53, therefore RIO has scope to move higher this week.

XXJ Monthly Pivot (50%) 5490 which has served as support for the past 2 days.

XJO Monthly PP is 4669 R 4911
XJO Weekly PP is 4650, R @ 4768

The market is using the Weekly R (4768) as support and the 5day highs at 4823 as resistance. Market should consolidate around these levels until the end of friday when weekly support and resistance will move up and weekly support will then be above monthly PP (4669).

All figures cash index's not SPI or CMC