September 16, 2011

Ascending triangle of BIDU

  • Bidu four hour chart shows an ascending triangle pattern.
  • With rising supports this one should give a breakout above the resistance line according to the rules of an ascending triangle pattern.
  • But triangles are known for whipsaws so lets wait and see how it moves. price breakout and closing above 152 levels should favor bulls of bidu. Price falling below 140.65 will favor bears of BIDU.
  • GOLD DESCENDING TRIANGLE UPDATE

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