Posted by: Babu Suresh | June 16, 2010


Russell2000-4H-16-06-2010This is the 3rd time since May,’10, 670 level is being tested. Since firmly breaking 632, it went on breaking another crucial support 615 but made a smart pull back to test again 670.

Technically, the last fall to 605 was absolutely without any credible strength, the result of which exhibited a spectacular come back to 650s breaking 632, which became a resistance after acting as good support.

Although I notice lack of absolute strength, it seems to have all the chances to test 670 again before correction sets in. I would exercise caution on the long side at this stage.

Russell2000-D-16-06-2010My probable Supports: 661, 650; Resistances: 670, 680

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