A 60 Minute Internal Look at GLD Breakaway Gap
I wanted to step further inside the GLD break and highlight the initial break, apex test, and then breakaway gap as this served as an excellent example to showcase these concepts.
Gold Nears Apex of Triangle Pattern
For anyone who has been following gold prices lately, you’re probably aware of the dominant triangle pattern that is reflecting a lengthy consolidation in price. Let’s take a quick look at that pattern and what the potential upside and downside targets will be with a solid break of the pattern. The symmetrical triangle pattern began…
The XOM Triangle Lesson on Trendlines Aug 10
Exxon-Mobile (XOM) is forming a large-scale contracting (symmetrical) triangle pattern on the daily and weekly chart that you might want to examine further. Let’s take a quick look:
Price Projection Lesson in Potash POT
Potash (POT) recently completed a Price Projection Target move out of an ideal symmetrical triangle pattern that I wanted to show you as an example. Let’s see it on the daily chart.
The 10 Year Treasury Note Triangle
The 10-Year Treasury Notes Price has been in a pullback retracement since 2009 began, but a clear triangle pattern has now formed and price is reaching the apex. Let’s look. Price made a new high over $130 in late December, though we’ve seen a distinct retracement off this level ever since. Although I haven’t shown…
Wachovia Tests New Lows
Let’s do a quick check on Wachovia Bank and the XLF Financial Index to see what interesting development has happened this week. First, Wachovia’s (WB) weekly structure chart: Price made a new intra-week low this week, testing just below $24 per share, but it did so on a developing positive momentum divergence (not drawn). The…