Quote from: prof7bit on March 18, 2013, 11:24:56 AM

This triangle is not bullish, if you look closely the upper line is slightly descending (and not ascending as you have wrongly painted it in your chart), it is trying hard to look bullish but failing to reach at least the previous level on each new attempt (and therefore failing to paint at least a horizontal upper line into the chart) is actually bearish, expect a serious drop (short term, buying opportunity) before it actually breaks the $50.

Note that this is not the ultimate reversal but its also not a continuation pattern. There will be a serious correction before it can continue.

The upper line doesn't matter, and was probably flat even. I drew that with MS Paint. What matters was the formation of a big triangle, then the smaller one. Regardless, I was right Grin

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