Thursday, November 8, 2007

MER - acceleration of the demand line

MER = 80.5 (-3.6%)

MER formed a gap down cross with lower high and lower low.

MER succumbed to the bearish sentiment of the local and US market. Bad news.

If today's low for MER holds it might seem that the demand for MER has accelerated. Good news

Disclosure: bought some more MER at 80.5

Support: 80, 77-76
Resistance: 81.5-83 (gap down)

Good luck to all MER traders!
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