Monday, December 13, 2010

Resistance up ahead

With the strong showing last week, the RSI(5) being in sell off territory and our wave 5 target directly overhead, I'm expecting a strong selling reaction to that level this morning. But until price gets below 1220, we can have a subdivision, so that is the 1st level that needs to fall for the bears.

Other than that, let's see where the market takes us.
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