Sunday, April 26, 2009

Bears are Weakening - Inder Bhatia

I had attached four weekly charts out of that three are inverted charts for a clearer direction, and to understand happened during 2000-2002, how the bear market rally got over. This week we closed above a major trend line which is the first and early sign that the bears are weakening and the bear market is coming to an end. After 2-3 weeks we could see a correction but this correction will provide a good buying opportunity for bulls, however we need a double confirmation from the RSI.



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