January 17, 2011

YAHOO Triangle pattern in weekly chart

  • Yahoo weekly chart is in a triangle type consolidation pattern.
  • Price is trading above its 200 and 50 day moving average.
  • 50 DMA line is acting as support in daily chart. If this moving average gets broken on closing basis we may see a downside breakout for this pattern.
  • If price continues to trade above 50 DMA we will see an upside breakout.
  • GOLD MINERS TECHNICAL ANALYSIS

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