Another breakout????

wwatson1

wwatson1

According to my analysis of the Dow intraday there has been consolidation these last few trading sessions and we are now at an important intra-day trend line.

Are we going to see the Dow breakout trough yesterdays high of 10639? OR TANK FAST!!

Ether way I recon there should be quite a bit of action on this decision point day.

Where are you lot placing your bets?
 

Attachments

Another way to look at the same chart is to draw a parallel line (a bit to the left of the one already there) to make an uptrending channel. In this scenario a 'break up' from the flag would not necessarily cause a true breakout but still be contained in the channel. Hope that was clear!
 
You mean it would breakout only to have resistance at previous support trend line right? Could be a good shorting opportunity soon then
 
You must log in or register to reply here.
Back
Top