Wednesday, October 12, 2011

Remember Patterns Predict

Lets see if this is the 85%'er

The red trend line is the top of the ascending triangle intraday which is a bullish continuation pattern, $122 was also a target mentioned, both were hit. Check the volume on the rallies and declines. Also for those using conventional indicators, RSI gave a signal at the 2 yellow arrows, no higher high in RSI.

That support/resistance zone will usually attract prices for awhile until it give way, keep an eye on volume, it's key here.

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