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The trend, however, to me is still up, and so, we're merely seeing a correction, atm.
The push1 end has also been violated.
Now, whilst this market could go down faster, producing the push2 leg down- =A KEY ZONE= 2008.10.19 key support of 11.87220 sits there, all these seem to be trapped inbetween the 100MA and the 200MA- we could also see a bounce from here.
And so, if I held a short position earlier, I would book something. Or book all.
The ideal thing to me would be to stay off, at least, as far as this weekly chart is concerned, and then wait for price to prove itself to us- Follow through selling or bounce.
We shall always see the footprints. The bell will sound if any of these events becomes the way to go.