I was travelling yesterday so there was no trading for me however given where we opened (very near 5360) it would have been a case of buying with stops just under this key level once again. With have been discussing and using 5360 as a key level for over 2 weeks now so hopefully most of you took note of this. It remains the case that in the short term we can expect buyers to dominate until this feature is taken out. The official market low yesterday was 5363.
Today we have expiry and its also the last day of trading until the European Summit meeting over the weekend. Expiry is often a pivotal event and with all the speculation surrounding the European bailout is going to weaken our systems today.
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