4.01.2012_Wednesday

Price met with resistance at the Median line at 4785 zone .Today's move was more of a consolidation day in a wider range after the huge rally.The range formed today is between 4780-4730 zone which is what we'll have to watch out tommorrow.
Two scenarios are probable
Scenario 1 ( marked in red and green arrows) - price moves further down towards the Green and red LMLH at around 4700-4690 zone, takes support and gears up for an upmove towards 50-4885 target.
Scenario 2 ( marked in blue arrow)- The momentum continues upwards.This will lead to resistance again at 4800-4840 zone where earlier we have many swing tops.The effect would be some minor retracement befor climbing up again.
Both the scenarios will get negated if we fall below the red lower channel at 4690 zone.