Wednesday 28 November - Pop and drop

SPI Futures traded in a 60 point range last night, with a high of 5757, low of 5697 and a close of 5739, up 5 points on volume of 11,221 contracts.  Based on that range, my resistance lines are 5791, 5776, 5768, 5761, 5754 5746, pivot point is 5731 and support lines are 5671, 5686, 5694, 5701, 5708 and 5716. Only one gap from yesterday/last night, and that is up at 41, which should go poof at the open. The gap is left from the pop and drop which took out the two outstanding gaps at 39 and 47 – 30 up and 30 down after the open of the night session, but never got over the high of that pop, and we have yet to see the drop. Have a nice day.