^MINING-OIL: Symmetrical Triangle (part 2)

Previous Post: ^MINING-OIL: Symmetrical Triangle (January 7, 2008)

This is really something, for the past few days despite the negative sentiments only ^MINING-OIL index are making its move up. Way way to go M-O!

The ^MINING-OIL index is clearly forming a symmetrical triangle on tops. Usually, this pattern are bullish consolidation pattern. This is what happen most of the time, though there are time that it may be a downside breakout.

Symmetrical Triangle Pattern, Tops
^MINING-OIL Chart as of January 09, 2008