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Ichi
My EOD thoughts.
The daily finished with a small black candle which formed within the cloud and maintained a position just below the 200 MA. Indications are there could possibly be one more spike higher to test the weekly base cloud for resistance whilst at the same time completing a 3 wave sequence. When taking into consideration the bearish nature of the weekly chart it indicates the price should then retreat lower, perhaps to the 1900 area where the situation can be re-evaluated.
Sam
Last edited by samarkand; 03-28-2006 at 04:00 AM.
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