Tuesday, October 03, 2006

CI- Can it break through the 970 resistance?

The CI has again come to the very strong horizontal resistance of 970. Its attempt at this level failed on Sep 28 and the market has retreated back to find support at the 964 level provided by the immediate uptrend line. A break above the 970 or below the 964 will determine the direction of the market going forward (see CI's daily chart below).

















Chart: CI's daily chart as at Oct 2

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