weekend charting easter, page-133

  1. 2,397 Posts.
    My chart from CSL thread.

    "And this is why I'm bearish short term.

    Two prominent bearish candle patterns formed at a known resistance level - the gap during March '09.
    This came after a strong month long rally that saw it gain 20%.
    A large gap formed near the start of that rally that I believe will need to be filled. That gap also coincides with two previous swing highs and will most likely form a key support area in the future.
    There was an almost identical move in August with a large bearish engulfing pattern and a short term double top like now. An identical down move would see the gap filled.
    I'm also a believer in long term uptrend lines acting as magnets, drawing share prices back to reality, keeping rises slow and steady.

    Cheers,
    10cents

 
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