Spotting repeated patterns usually helps traders and analysts to take their decision. In this connection interesting pattern in Google shares has occurred last two years. It provides investors with profitable opportunities as important entry and exit levels are determined easily.
Positive parallel channel indicates important support and resistance levels. RAX resent sharp jump sent price close to resistance line. This usually is sell signal, however, good quarterly results posted by the company Feb 14th, dent the positive stock mood. Downside is limited to consolidation around current price.
Technically the triangle consolidation from second half of 2011 has been broken in the beginning of 2012, thus opening way for new bull trend. According to technical pattern when break out occurs in triangle consolidation the subsequent rally should be equal to the triangle height, which in our case is 396.17 points - the correction started July 25th 2011. Given...
Using Fibonacci Time Zones in current market conditions proved to be reasonable. Oct 23th and Dec 20th 2011 market bottoms were correctly marked by Fibbo lines 2 and 3. According to the projections next turning point should be around Feb 11th . In the next few days we are going to see if this is the case.
More of Fibonacci Time Zones Predictive Power:...
This chart shows evidence that Fibonacci Time Zones tool is able to indicate crucial turning points in market move. It is perfect for timing your trades.
The projection based on 2010 market bottom successfully predicted some of the buying or selling moments trough that year. Second time zone (the Fibbo line with number 2) coincided with market reversal of Sept...
Gold's triangle consolidation started in the beginning of July 2011 has come to an end after yesterday’s sharp rally and subsequent brake above important resistance level - $1640. This move is really important as price steps into new pattern which appears to be bullish for the precious metal.
Last three months gold traded in triangle and thus consolidating. Exit from this technical figure has two outcomes – braking up or downward. Usually the following move coincides with the triangle height (in our case approximately $300). The bullish move the target is $1950, while the bearish - $1300.
Brake of the crucial 1.3150 support has confirmed the downtrend of the pair within the channel. Next support is 1.29 formed from previous 11 month bottom. Short term outlook remains negative, however there is probability for rally.
After yesterday close another devergence has been spotted in EURUSD. It coincides with strong support level formed from previous bottom at 1.3150. The double bottom and divergence strongly indicate trend reversal with target 1.38.
S&P is trading close to the support level formed from previous two peaks formed earlier this year. If brake above that level is successful than the negative trend is averted and strong rise could be seen.