Monday, May 17, 2010

Pre Market Updates

Dow falls 163 on European worries on Friday. Crude oil drops below $72. The euro plunges against the dollar. But U.S. retail sales and industrial production rise. DJI breached but closed above the 100-days EMA support level at 10609. Next critical support level at 10260

S&P/ASX200 is trading in a downtrend at 4532 (-82.70). Declines were led by Bhp Billiton, Commonwealth Bank and Anz Banking Group. Previous low at 4530 may be test in the near term with current resistance at 4630

*Technical* Nikkei225 dipped -140pts . It is below the support level at 10380 (200-days EMA) . Next near term support may be tested at 10130 ; Resistance 10550 (prior high)

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