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Tuesday, November 23, 2010

FTSE 100 - Looks very toppish

It looks like the FTSE 100 has put in an important top at 5,902. A smal S/H/S top has formed, which has an objectiv in the 5,390 - 5,400 area, but it could easily be a much deeper decline.

Short term resistance is now located at 5,670, which will ideally cap the upside, but if broken a move towards 5,705 should be seen.

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