April 17, 2011

IWM Weekend Update

  • First chart is the weekly chart of IWM shown with support and resistance lines. Having taken support near the supporting trend line price is moving towards the resistance line shown in Weekly chart.
  • Daily chart shows price bouncing from 50 day moving average.
  • Price has closes above 82.35 which was a resistance level. Sustaining above this level can target 85 level in IWM.
  • GOOGLE CHART ANALYSIS

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