Update for: 2012-02-27 - 2012-03-04
Posted on: Sunday, 26 February 2012 22:13
Short-Term Trend: uptrend
A weeek ago we turned bullish based on the price pattern on the daily chart. With the strong rise last week the bullish view has strengthen and now it seems a Long-Term low is already in place here. If that's the case, the prices will remain abv 78.05 level in the next few weeks and gains twd 83.60 will be seen. On the downside, below 78.05 negates the current Short-Term uptrend and will instead suggest that the market is trading sideways in a rather broad range.
Strategy: Hold long from 79.70. Stop= 77.80. Target=83.80
Next Update: Sun, 03/04/2012
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