Wednesday, March 23, 2011

Will we break down?

We have tested the support at NASDAQ Composite(COMP) 2600 level and are now testing a resistance level at 2700. If we manage to break that resistance we have a new resistance area around 2724-2750 and 2800-2840. But, it looks like there is a high risk that we sooner or later will break downwards, below 2600, and test the support around 2450-2500. Be cautious...

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