What's New?

Tuesday, January 8, 2008

TA: Breakout from Falling Wedge, Pullbacks/Throwbacks

I am closely monitoring this issue I want to see how wedges behave. After the breakout, it went down near its previous resistance but it did not went back inside the patten. Instead, price went up again after nearly touching the previous resistance @ 1.22

Is this indeed a throwback? (I guess this is the correct term to use when it's on the upside breakout)

MACD is positive. Plus, MACD is above Signal it crossed a few days ago that signal a BUY. Also, RSI is in the up-slope while Price in the down-slope. Is this a bullish divergence?


Falling Wedge Chart
TA Chart as of January 7, 2007
O-1.28 H-1.28 L-1.24 C-1.28