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Wednesday, August 25, 2010

The Turnaround Points

Hang Seng is falling to a strong support zone which make me feel it will likely turn around.

1st support level: 20592~20728( gap)
2nd support level: 20430( multi year major support, meaningful fibonacci level)

we are current at 20658, that's another 228 points away, if it can go thus farther.


Straits Times is poised to fall further, the pretty bearish top tail hammer touched its trendline and was selling off yesterday. Next level I'm watching is 2897, and possible 2888, if it fell farther. Another 34 points away.

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