We have seen a very nice Shoulder/Head/Shoulder top and the break and close below the neckline at 73.97 yesterday has activated the top-formation for a decline towards its objective at 68.21.Yesterday also saw a clear trend collapse from the minor trend etablised since May/June 2010. A very clear break below the trendline is a very bearish set-up.
Looking at the longer term view we saw a top formed below the long term uptrendline formed since 2001, that was broken in early September 2008. We also saw a top formed below the uptrendline in late September 2009 too.
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