AFTER BREAKOUT THE CHANNEL IT FORMED FLAG PATTERN , BUY IT OR WAIT TILL HIT BOTTOM
Rio Tinto weekly chart shows inverse head and shoulder breakout, although subsequent rise has been capped repeatedly around 2550 levels. On the daily chart, both the RSI and money flow index suggest increasing bearish pressure on prices. Hence, we could a minor drop to 2390-2350 area. However, overall view stays bullish unless the weekly close is below...
See chart for description on what I see
Reason for Entry as described in the chart.
$REN I will be looking to short depending on Price action at the open. The stock is a previous runner where it managed to almost get to 9.00. However, following four days of solid volume with massive gains, the chart looks over extended and had fading volume. I will look to enter on the open or possibly into the late afternoon to hold over the weekend depending...
$CDTI rose sharply following a Gap Up over the previous few days due to good fundamentals and a contract win with Honda. However, the chart was over extended and volume started fading into the close on the 12th of July so I shorted on the first red day with one of my brokers who had shares to short. I anticipate that this will follow through to 0.50 (and...
Standard Chartered shares are flirting with inverse head and shoulder neckline and appear poised to close the day higher. That would be confirm a bullish break and present a technical target of 831. However, as of now, that appears a big task given the banking concerns in Europe. Nevertheless, a bullish break on day end closing basis would open doors for...
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