November 16, 2011

ES Diamond pattern

CHART-II (UPDATED)
  • Diamond posted yesterday has remained within the pattern. Price is now closer to the apex of the pattern. Breakout from this pattern may resolve the triangle pattern too.
CHART-I
  • ES is caught in a diamond pattern.
  • Diamonds can form at the top or at the bottom, This pattern has formed in a larger triangle pattern. So breakout from this pattern may give a clue for which side the triangle pattern is going to get resolved. 

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