April 21, 2011

GOOGLE in a TRIANGLE pattern

  • Month chart of GOOG shows price hitting the supporting trend line of a triangle pattern.
  • Price may give a bounce from here.
  • Weekly chart shows current week candle forming a Doji like candle on the Trend line.
  • If the week closes like this we may see GOOG Rising from next week onwards.
  • Further correction will be possible if this trend line gets broken. This also means breakdown from the triangle pattern which will be bad for GOOG.
  • ES 30 MINUTES CHART

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