Tuesday, September 28, 2010 4:12:21 PM
FEEL Chart - Annotated
There are many things that can be said on this chart, trading_jeff makes a good analysis on his charts, but I want to focus on one particular thing.
Remember that Penant Flag formation I was pointing out that was forming early last week, and ultimately resulted in a break above .022 on Friday, well I'm seeing a similar trend forming now, with the low volume accumulation forming another pennant.
What's different and even more interesting now is the 20-day SMA is starting to move in an upward trend, and the 100-day SMA is going down a bit forming a trading channel. You can see our Highs and Low's have stayed in this channel. The reason I bring this up, is when this occurs in a chart, it's like a coiled spring is being squeezed and if the 20-day SMA continues to increase and get closer to the 100-day the pressure can sometimes cause a Massive Break up past the 100-day SMA. What some people call a BLUE SKY BREAKOUT.
this will be interesting to continue to watch from a chart perspective. If we continue to get Higher lows we could see this coiled spring explode
There are many things that can be said on this chart, trading_jeff makes a good analysis on his charts, but I want to focus on one particular thing.
Remember that Penant Flag formation I was pointing out that was forming early last week, and ultimately resulted in a break above .022 on Friday, well I'm seeing a similar trend forming now, with the low volume accumulation forming another pennant.
What's different and even more interesting now is the 20-day SMA is starting to move in an upward trend, and the 100-day SMA is going down a bit forming a trading channel. You can see our Highs and Low's have stayed in this channel. The reason I bring this up, is when this occurs in a chart, it's like a coiled spring is being squeezed and if the 20-day SMA continues to increase and get closer to the 100-day the pressure can sometimes cause a Massive Break up past the 100-day SMA. What some people call a BLUE SKY BREAKOUT.
this will be interesting to continue to watch from a chart perspective. If we continue to get Higher lows we could see this coiled spring explode
River~
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