The SMI is confirming a nice recover after the test this morning of the 5510. It already confirmed a s/t bottom in the hourly chart and an hourly closing above 5654 will confirm a double bottom supporting a sensible move up.
The indicators of the daily chart are however negative after the weak closings we had in the past sessions but those of the s/t ones already returned positive supporting further upside potential. The move up is corrective and a selling opportunity but only above the 5750 level.
We remain on the sideline waiting for confirmations.
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http://www.easyforexnews.net/wp-content/uploads/2011/11/SMI-11.03.pdf
FUTURE TREND RESEARCH