Dec 6, 2011

Short term update

Hourly chart adjusted.
We saw higher prices this week but the candles have long shadows... which is not very good. SP500 has touched resistance, 38,2% lies now ~1225, EMA50 ~1221, MA20 ~1226, the middle of the Marubozu candle ~1222.
The 1220-1225 zone is getting more and more important for the bulls.

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