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<x-rich>For the entire next week, my stop on short corn position is raised at 238.
To say the truth, it's a stop-and-reverse kind of system, so...
Harry up! We are finally going to put the money in the pockets! :-) What about the technicals?
In the first half of previous week, you can note how corn formed a "dirty" morning star, being monday's close not higher than tuesday's one. However, tuesday experienced an inverted hammer, minor reversal formation in candlestick charting (note how the return line in any case acted as support), yet followed by a long line. After the indecision of thursday, we had the engulfing line of friday which promise well for the near future. We could expect the market to be in a short-term uptrend 'til the support at 233 holds on the close (half long lines act as support according to Nison second book). Channel line pass through 242.50 for monday, and through 241.80 for tuesday, but I would see the resistence line a 245 broken before saying the bear trend is momentarily concluded. Also take a look at the moving average, though it's still early...
have a good weekend from Italy
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<bold>Gaetano Arnaldo Evangelista</bold> - BARI (Italy)
E-mail: ageitaly@xxxxxx
URL: http://www.geocities.com/wallstreet/8492
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