BRL Chart, page-370

You borrowing IJ's rose-tinted glasses?

BRL is in a downtrend and descending triangle formation. If the downtrend line broke on high volume then you could say it was bullish. However, as I pointed out last week, very blatantly, the SP again failed (3rd time) to breakout. That strengthens the overall trend.

I would like you to cite why you think the chart looks bullish, utilising known indicators and reasoning.

Here's some homework for you on descending triangles: http://stockcharts.com/school/doku....art_patterns:descending_triangle_continuation

NB - These are continuation patterns (ie the current trend is down, therefore it is more probable that the trend will continue negatively)