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Sunday, March 25, 2012

Construction Sector Update on Mar 25

Let review the Construction Sector for this week..

1) Downtrend Line - Hit Downtrend line and retrace further ( Bearish)
2) Formed lower low - Bearish
3) MACD - Still in bearish mode and touching the 0 Level
4) RSI - Retracing from 50% and formed lower high ( Bearish)
5) Sto - Still in bearish mode

The construction sector is testing it support at 258, further breaking below it show bearish signs for overall construction sector.

Entry price - 264
Support at 258 and 253
Resistance at 268 and 273

Overall all the top counters are retracing except KIMLUN which are showing a strong bullish sign forming a higher high.

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