Thursday, March 25, 2010

Yesterday's Market

Yesterday prices consolidated in a triangle pattern, bordered by A and B. Also note the the 200 minute EMA was a primary source of support.

Uptrend A is still intact. This is pretty amazing considering the several angle of this line.

Above resistance (which is now support) we have a consolidation of sorts (B).

Above the line we have a downward sloping pennant pattern (A and B) and important resistance at C.