Summary for Week Ending 10th February 2007
After a strong week the previous week, this week we had to contend ourselves with the market doing virtually nothing at all. After trading the same price for 5 days, the market finally gave in on Friday and took a bit of a slide.
Last week I highlighted the trends that has made up most of the movements for the past year or so. Nothing really to talk about this week as the market is still in this frustrating mood of creeping upwards and not doing much at all. On the weekly chart effect this doesn't appear as strongly so we are still in an upwards mode.
As I've been saying for quite some time now, until we see a decline that eclipses the 56 point level, this trend is not at risk, even if it does appear to be a little bit soppy at the moment. There a a few trend lines coming off parallel channels that can provide some support for the downside.
Again, Nothing stopping more of the same for the coming week.
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