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Friday 27 July 2012

Dowjones Testing Channel Resistance

Dowjones testing its channel resistance again at 12940-70 range. This time the move is supported by +ve Moving Average Crossover and +ve MACD cross over. Hence, caution should be exercised while shorting the channel resistance. Stop Loss should be followed very strictly this time. If Dow manages to sustain above 13000 will have target @ 13200, 13500 with support @ 12940
Click on chart to enlarge
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