Wednesday, 10 March 2010
rising wedge ?
The entire move from the March 09 lows can be classified as a rising wedge (See Dax chart in previous post.The sell-off in January was a declining wedge and now we appear to be nearing the end of a rising wedge.Fibonnaci time days seem to be working for turns.Today was 21 days from the low.
Watching Billiton chart closely to see if breakout sustained or if we develop reversal pattern such as evening star.Strength in miners seems counter-intuitive to me given likely slowdown in China.
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