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Tuesday, January 18, 2011

Alam retracing

This is another Oil and Gas Counter

1) Uptrend- Still above the uptrend line but because if break below 1.12 take some profit first
2) HH - Formed higher high at 1.25 and retrace back ...becareful if break 1.05 which was the higher low better cut loss because this will reflect a bearish trend but if rebound above 1.05 there will be another cycle of bull run
3) MACD - SHow 4G1R on yesterday and now retracing
4) RSI - Broke the overbought line showing bearish signal
5) ADX - Low momentum at 25 and showing bearish


Accumulate if rebound above 1.05 and cut loss if break below it.

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