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1) On a more positive note, we have also observed a bullish divergence between the MACD indicator and the price action over the last 6 months, possibly signaling that the medium term downtrend could be coming to anend.
2) Barring any catastrophic news, this might suggest that the Mar '09 bottom of 6470 could hold in the months ahead.
3) Overall, a transition into a range trading channel (between 6470 and 9011 level) is more probable in the medium term, until clearer signs emerge.
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