Tech outlook on Turkeys stock ındex

The XU100 weekly chart trades along the trendline and we made a little trough with the other markets but the real low of this leg is not in yet. Weare in wave counts in wave 4 of 3 and need the final thrust down to complete wave 3 down. You might als notice a Head and shoulder pattern with the red line which is a TDST line almost matching the neckline. In both cases thats a negativesignal mid to long term and gives a target of 5000-7000 roughly but within 2-3 years though. For now around 20000 the low of leg 3 should find its bottom and a powerful rally might follow as some ‘pundits’ still claim this to be a cheap market – which is a statistically always obscure thing to say for a not developed economy with a golobal depression knocking at the door.

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~ by behindthematrix on November 28, 2008.

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