See the prior post for an explanation of the lines. Today’s chart is positive in that the upper line forming the wedge has been broken to the UPSIDE. That must hold on a closing basis of course to validate the move and the negation of the bearish rising wedge. (Chart provided courtesy of Worden Brothers, Inc. at FreeStockCharts.com.)
Falling BACK DOWN through the wedge would be VERY BEARISH, so follow this chart along with me.
Happy Investing and Trading,
Standard Disclaimer: Remember, it’s your money and your decision as to how to invest it.
You can review the POSITIVES AND NEGATIVE SIGNALS in the markets HERE (from today):
Market Timing Blog at SunAndStormInvesting.com
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The charts were produced by FreeStockCharts.com which is a registered trademark of Worden Brothers, Inc., Five Oaks Office Park, 4905 Pine Cone Drive, Durham, NC 27707. Ph. (800) 776-4940 or (919) 408-0542. http://www.Worden.com.