Sensex may hit 12500 before finding support: Daryl Guppy
June 16th, 2009
Daryl Guppy of guppytraders.com said the Sensex was likely to fall to 12,500 before it found solid support. On the US market, Guppy said that the S&P had broken long-term downtrend line and said he sees resistance for the S&P 500 at 1,050.
On commodities, he said that crude had a long-term resistance at USD 70-71 per barrel with an upside target of USD 81 per if it can maintain above USD 70-71 per barrel.