December 16, 2012

IWM Weekend update

  • Daily Chart shows strong support at 81 levels as 20, 50 and 100 SMA's converge at this level.
  • Weekly chart shows a bearish pin bar pattern But price managed to stay above 20 Week SMA. More falls if price falls below 20 Week SMA.
  • Daily MACD is also looking weak but need price to stay below 81.04 levels. Strength only if price stays above 83.8

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