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Thursday, January 27, 2011

SALCON seem a bit bearish.


















Observation
1)Trend Line - Below the down trend line
2) HH - Broke the previous Higher low and going toward 0.645
3) MACD - Red line above blue line ( Bearish Signal)
4) RSI - Currently at oversold ( Bearish Signal)
5) ADX - Very low momentum at 13 point with bearish signal ( Downtrend slowly or sideway trend)

Conclusion
Cut loss at  0.665 and wait for this counter to rebound at this criteria
MACD - 4R1G
RSI - Break above 30%
Trend line - Break above the downtrend line

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