The uptrend since mid February 2009 is showing the first serious signs of collapsing. At the same time a minor Shoulder/Head/Shoulder top might be building. To activate the top-formation we need a break below the neck-line at 46,643. If the neck-line breaks we might "just" see a decline to 45,167, from where an other right shoulder could form, but longer term the decline should be much deeper = 37,815 (at least).
Showing posts with label Possible Should/Head/Shoulder top in the Polish WIG 20 Index. Show all posts
Showing posts with label Possible Should/Head/Shoulder top in the Polish WIG 20 Index. Show all posts
Friday, February 11, 2011
Polish WIG 20 - Topping?
The uptrend since mid February 2009 is showing the first serious signs of collapsing. At the same time a minor Shoulder/Head/Shoulder top might be building. To activate the top-formation we need a break below the neck-line at 46,643. If the neck-line breaks we might "just" see a decline to 45,167, from where an other right shoulder could form, but longer term the decline should be much deeper = 37,815 (at least).
Subscribe to:
Posts (Atom)