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Thursday, December 17, 2009

Russian Stock Index - Wave 2 is almost done



If my count is correct wave 2 is close to its ideal target near 1,472, from where we should see the powerfull wave 3 begin. The real confirmation that wave 3 is in motion comes when support at 1,297 is broken, but the best risk/reward trade, will be close to the top of wave 2 at 1,472 with a stop just above the wave [B] top at 1,508.

Longer term wave [C] should take us below wave [A] at 492.

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