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Bank of Ireland (Ireland) Message Board

  • ghart3509 ghart3509 Feb 12, 2013 7:59 AM Flag

    Double Bottom at .132 Euro

    Monday's trading low of .132 Euro printed a Double Bottom. Two things need to happen for a return to the upside. First that .132 Euro bottom must hold and the .140 previous support, now resistance, needs to be taken out on impressive volume. It is very possible those two levels could identify a narrow trading range going forward, which will be incredibly boring and eliminate trading this bank with reasonable profit. The time of the year and general market conditions causes me to suggest the narrow trading range will unfold for the near term, the return to higher numbers will probably be held off until the end of 2013. But as my good friend Dennis Gartman says, All rules are meant to be broken: The trick is knowing when... and how infrequently this rule may be invoked!

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14.100.00(0.00%)Feb 17 11:58 AMEST