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Strategies & Market Trends : Longer-Term Market Trends
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toccodolce
To: golfer72 who wrote (2579)11/24/2013 9:46:36 AM
From: Fintas1 Recommendation  Read Replies (1) of 3209
 
GOLFER..I just went back and took a fast look at CLF via PNF.

First it's x's up in it's rsi pnf pattern. Given what's going on that's a good thing.

Doesn't mean it can't reverse. Just means given most have that's a good thing.

And the up shows 30% with some areas of resistance. My work would see 29.16/34.02 as near term possibles and 42 longer. The lower numbers covered by the RSI presented. The longer term by % higher not stated re RSI.

On the flip side IF the x's were to roll to 0's. Then 24.30 to apprs 22.. The o's pattern would suggest just the 3 box and a drift but that's no big deal as one consider the look of the pattern.

So IF I wanted to step in AND the FA is SOLID. I wouldn't not be afraid to take a bite and size in if it goes lower and staying focussed on that 34/38/43

Hope it helps.

Fintas
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