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Thursday, March 25, 2010

Reversal


The market pushed to new highs at 1180.70 into very overbought territory, before reversing hard and giving back all today's gains, stopping at support around 1165.

Tomorrow's opening will tell, if 1165 support is broken, the bears could take the lead then and we should follow the trend down until a new signal is broken.

An inverted hammer is clearly seen on the daily chart.


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