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A few thoughts on the lifetime $DJI »


time to get long?

Posted by Cire2222 on Jun 10, 2008

Well the Key pivot play did not trigger today and that play is off for now. I do now have a bullish stance going into the next couple days. The chart below shows a bullish divergence with the 7 period RSI. If we can break todays highs I expect us to head right up to the 38.2% fib as shorts get squeezed, I think the dollar can continue to rally helping give oil the much needed push lower.

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