Technical analysis for shorts & longs Message Board

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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 690.64

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Feb 6 4:00 PM EST

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To: Johnny Canuck who wrote (48179)	6/30/2012 4:10:26 AM
From: Johnny Canuck	Read Replies (1) of 70550

Commentary on the oil sector: watch.bnn.ca I don't agree with his conclusion on the right angle triangle on gold. watch.bnn.ca Usually that is a negative pattern as it is testing support multiple times and usually leads to a break down to the downside which is equal to the vertical height of the triangle. That being said the triangle is now over 3/4 of the way toward to the horizontal tip which usually indicates the pattern is negated and the security has moved into a sideways consolidation phase. That means the trading is neutral.

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