The Break-down.....

Yesterday i put up a chart showing the upward trend that had started about mid-may and has continued on but is getting weaker.

The graph below shows the bottom channel line starting to break-down from the 21/04/2009 and with a close just below the line yesterday it is in serious danger of not re-entering this up-ward channel. This would fit in with my head and shoulders theory that needs that final leg down (very soon) to complete the pattern.



the graph also shows what i think is the start of a 'new' downward channel that i think will be in play for a while. I believe that the bottom 'green' channel line will be broken and become overhead resistance in the S-T.

safe trading all