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Post# of 396422
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livermore4ever

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livermore4ever

Re: None

Thursday, 08/12/2004 2:20:40 PM

Thursday, August 12, 2004 2:20:40 PM

Post# of 396422
PMCS – Technical Analysis

PMCS is trading on the bear side since January… A very solid descending resistance has been the main technical reference since then…

In the last sessions, PMCS has mad new year lows, breaking the 10$ support, and opening the way to a price target near the 8.29 level ($10 minus the last trading range amplitude).

Take a look at my PMCS Techical Chart, in order to understand this analysis:
http://globalspeculators.com/trading_futures/index.php?topic=30.0


The $10 price zone should be considered the main short term upside resistance, and $11 the long term descending trendline.
PMCS is starting to be oversold, if we look to DMI we can spot it…

Best regards,

Jesse Livermore
http://globalspeculators.com

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