Monday, October 09, 2006

CI is hanging on.

On Thursday, I've commented that the CI has broken below its short-term uptrend. CI has however done a good recovery job on Friday & managed to close marginally above the strong horizontal resistance of 970. In the process, it has also stayed above its short-term uptrend & its 10-day MA. With this recovery, the CI has again placed itself in a good position to do a convincing breakout.

At 10.00 a.m. this morning, the CI has gained 1.54 to 972.52. Gainers out-numbered losers 186 to 140. Volume traded is still low at 124 million units.

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