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XEL daily 10/06/13

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There's no real sign of direction yet here but given the form of the previous move down from 127p it looks to me like this is forming a bear flag indicating further downside.

The recent rally halted at the 61.8% Fib of the last drop and the downtrend from the 250p high has not been broken despite the recent bullishness. I can see this moving sideways within the bear flag until it hits the downtrend resistance. We'll then see which direction the SP will likely move in. 
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