EDC - might have found support

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EDC = 7.1 (-2.7%)

EDC might have found support from previous gap up.

After opening gap down EDC tested support and then closed above its open to form a white candle. Though there is still a huge gap down to fill, EDC might be able to do that job.

For the bulls to show us that they control EDC: EDC must form higher highs and higher lows on Tuesday.

It is a concern that there is an aggressive supply line that will be a resistance level for EDC.

Support: 6.9
Resistance: 7.1-7.3

Good luck to all EDC traders!

Note: I would consider to buy EDC if it is able to form higher lows and higher highs tom with significant volume. It will certainly be a buy if it is able to gap up with big volume.

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