Firm close above 480 represent channel breakout and nice signal to go long.
Morning intraday action is showing upside tendency. Candles are above ma consolidating. Break out above 460 have some resistance but it's just reaction. Bull side is confirmed on 15min time frame.
480 breakout is taking profits for some scalping oriented traders because resistance is here. But up potential is not vain so upper time frames take over and uptrend is prolonged through the day.
Sunday, July 1, 2007
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