price channel since nov 08, page-18

hi ray b 2.
yes the lack of a bounce of the $36.50 is a concern.
the longer we sit on this support with no bounce the bigger the chance of us falling down to the next level of support $34.07-$34.70.
a flat fed statement last night ended the bounce on the dow, looks as if the usa is in for lower growth longer term.
i see on page 13 of the fin review, the world bank has upgraded the growth rate in china from 7.2% to 8.4% for 2009.
yes there could be more down side to the sp but a co with links to the fastest growing economies in the world is where i am happy to park my money longer term.
have a good one.

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