updated chart
looks like a classic descending triangle to me staright out of any text book.
chart 2
as previously mentioned the 21 day ma is flattening out suggesting a bottoming of the down trend...
it will be of interest to see if the 21 crosses the 200 ma and we see a change in gradient of the 200 suggesting an up move...
but we will have to be patient to see if it happens.
the sp is at such a nice level that any move of say a few cents will be a good percentage earner so maybe it will be a good one to watch over the next few weeks.
If it breaks downwards then move on.
thanks
Golden Tickle, page-116
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