VCSC Daily - Strong resistance at 480 and 80 send indices back into the red

Market Commentary

18 Apr 2012

Strong resistance on both indices – The VNIndex closed at 472.2 down 0.14% and HNXIndex at 79.3 down 0.73% after failing to break through their respective resistance levels. After comfortably breaching the resistance at 470, the VNIndex tried to forge ahead to 480 on a 6-point intraday rally but saw heavy pushback that sent the index backwards. Meanwhile, the HNX is still trying to muscle past a strong 80 resistance established on last September 2011 highs.

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