1) From Jan 2009 until now, we observe that Price has been trading in an overall up trend channel, marked by the solid blue lines. This defines the general long term trend as bullish.
2) However, within the overall long term trend, there was a period of sideways consolidation between June 2010 to Dec 2011.
3) The actual up move in price happened when price broke...
From June 2011 to April 2013, we note a major bearish topping pattern breaking out below 1,550 and price went for a deep dive to as low as 1,200. This clearly indicates that price is in a bearish environment.
Between June 2013 to Sep 2014, price has been consolidating sideways with lower highs and higher lows, forming a symmetrical triangle pattern. This is...
Price has been trading within a bullish uptrend channel, from July 2013 to the present.
The horizontal support levels within the channel are 45.00, 53.50 and 71.60.
We note that Price has found support at 71.60 and is looking to trade higher.
We also observe a somewhat fuzzy Elliott Wave Pattern forming, between May 2014 up till now.
We project that the price is...
We note that Price has been on an uptrend from Sep 2012 to July 2013, where Price traded from 9,700 to 10,970.
From July 2013 to July 2014, Price has been generally consolidating sideways, forming a major Triangle Continuation Pattern,
We also observed a minor Double Bottom formed within the Triangle Continuation Pattern.
Since price has currently broken out of...
Starting from 2013, price has risen sharply, from $19.00 to as high as $32.00.
However from August 2013 to June 2014, price has been consolidating between $26.00 - $32.00, forming a potential flag pattern.
On 11 June 2014, price has broken out of the $26 - $32 consolidation, confirming the flag pattern formation.
This breakout went as high as 33.45, followed by...
We note that price has been trading along bullish uptrend line, from Aug 2011 to May 2013. However price has been consolidating sideways since June 2013 until now.
We note a possible Diamond Top Formation close to breaking out. The breakout will likely happen after price manages to trade and sustain below 75.00.
The objective of the pattern will be to reach...
Price has been trading steadily within a long term bullish Uptrend Channel, since Jan 2011 up till today (24 July 2014)
Price has recently trace from High of around $81.00 (26 Nov 2013) and found support along the Uptrend Channel Line.
We also note a minor double bottom (31 Jan 204 - 16 May 2014) within the Channel. This indicates a reversal of the bearish...
Market has been trading in upward channel, from May 2013 to May 2014
Double Top Pattern formed around 1.3945 has resulted in breaking of the uptrend line
The Double Top Pattern has evolved to form a Head and Shoulder Pattern (H&S), indicating a major reversal in the bullish uptrend. The Head and Shoulder Pattern is confirmed when prices broke below the neckline...
1) Price has been trading within an Uptrend Channel, since Sep 2012
2) Price was resisted against 128.00 from 2013 to 2014, with an attempt to break the Channel Trendline on 2014-01-30. However this turns out to be a false break, with price trading back into the Uptrend Channel
3) We note a classic Elliott Wave developing, from 2014-04-14 to 2014-07-15, with a 2...
1) Significant Double Top formed between 46.00 - 48.00 levels
2) Price has retraced back to Neckline and begin second impulse wave.
3) Price has broken 64 Month Uptrend Line and may transition within a projected down channel
The near term projected path of least resistance, will be for price to continue downwards.
It is also likely that the price will trade...