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triangle, continuation pattern in theory, reversal pattern most of the time in reality, let's see.
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5 min. is the next for bulls to worry, 5 dma is a key resistance and stand right around 38.2% fib from the Hi to Lo. any thing above that, bulls will be flying HH, or bear flag is in the plate.
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My comments are for entertainment/educational purpose only. NOT a trade advice.
good morning
guess is some recovery today followed by more weakness. bulls will have better chances over 2800 levels sp, but not banking on it. expect new lows by week end. china italy yuk.
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if bulls can touch the Friday's high (blue line), breakout is more likely. Let's see.
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BullBear52x wrote:intraday we are now having IHS, looking good bulls
dang charts not working . possible, not usual, but possible ascending triangle reversal on hourly sp. must break 2780ish level and maintain, good for 60 pts or so on the up...
BullBear52x wrote:intraday we are now having IHS, looking good bulls
dang charts not working . possible, not usual, but possible ascending triangle reversal on hourly sp. must break 2780ish level and maintain, good for 60 pts or so on the up...
I am not happy this 12 points reversal but one more buy coupon before I say the bulls are FAULKED
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