March 19, 2011

  • Weekly chart is showing a bearish trend line break.
  • Daily chart is also trending down below the 200 day moving average.
  • Price in daily chart is moving down in a narrow channel.
  • RSI and price movement is showing some divergence, But things will favor bulls only if price confirms an oversold bounce by closing higher.
  • BIDU TRIANGLE PATTERN

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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore