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30/12/2004:
The index moved today between 8102.82 and up to 8209.74, and then it closed at 8206.23. And with that, the index has moved within the range that we mentioned in the previous note, which confirms the correctness of our analysis. The analysis indicates that the index movement is still under the uptrend resistance line (which was a support line before), as described in the chart. The reading for the resistance point for the next trading day is 8263, while the support is between 7915 and 7880, and this is the expected range for the index movement. It is important to mention that if the index closes outside the mentioned range, will lead us to a new movement area.
Mustafa Elhelo
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