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S&P/ASX 200 forecast for coming week ended 20th July, 2012.

S&P/ASX 200 is still in uncertain zone in respect of its trend. If it would break 4100 level convincingly then I will be emphasizing more on reverse symmetrical triangle than bullish pattern but right now I am not completely sure what it is going to do.
One thing is good that it has not tested its previous low of around 4000 level, in fact move in the last day was better. As it looks like that it is trying to make some kind of base here. S&P/ASX 200 is in over-sold zone so from here if it again breaks 4100 level then new optimism will arise about that bullish pattern which can take it around 4300 level.
But if it gets resistance around this 4100 level in early to middle days of the coming week then there is more chance that it may drop. The reverse symmetrical triangle which I am talking during past few weeks also demands that S&P/ASX to fall from here. In the downside if it comes close to 4000 level then there is a strong chance of making a bearish pattern which can take it towards 3850 level but it needs more time to prove.


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