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Monday, April 12, 2010

Australia Ordinaries - The uptrend continues



The uptrend continues to push ahead making new highs. At this point we are just below the 50% retracemnet target at 5.036,16, which should be tested soon.

Suport is found at 4,954, but only a break below suport at 4,845 will confirm that the top is finally in place for a decline to at least the 4,483 area. Longer term the decline should be much deeper.

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