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Price bounded in range, slightly upwards sloping MA

5 min Emini Nasdaq 100

Hi,

How is it going lately? Price is stalling again as it approaches the resistance formed by a previous high 4 days ago... Moving averages only slope up slightly and I would really like it to have a little bit more slope before I even think of going long..

Stochastics and short-term MACD are not very symmetrical reflecting the price action characterised by short-bodied candlesticks..
Short-term MACD stayed closed to the zero line..

This is no condition for going long... No trade today.

Posted by Michael Taylor on January 14, 2010 5:01 PM |

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