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XEL daily 07/07/13

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There's still no clear direction for XEL but a decisive break will have to come soon. The daily RSI is getting towards the apex of it's triangle, and price is also in a breakout zone in its own triangles.

Key price levels are at the 92.5p gap and intermediate uptrend support, the recent 96.4p low, the short term uptrend support at 98.5p, the recent high at 106p and the key 113p level circled.

The RSI should give us a clue which direction the price will go in so I'll still be watching where that closes. I'd like to see that short term uptrend hold but the 92.5p gap offers a great entry possibility with a nice tight stop below 88.75p. If that fails then there's the main trendline at 83.75p.
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