Kijun Sen not bending yet for MCP

MCP’s Kijun Sen line has been moving horizontally for quite some time now. Price has been attracted to this line last Jan 9, 2013 (two weeks ago) and this line act as a jumping board but as you notice it seems that there is a resistance at the top that the bulls have a hard time breaking it. If the bulls will get tired trying to break it, this might fall back to 13.18 again. Nonetheless, MCP is still bullish with all Ichimoku elements in green

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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