Sunday, February 26, 2012

Weekend Thoughts

ES
 ES appears to be forming a small bullish pennant within a larger potential triangle.

HG
Dr. Copper continues to look a little bullish here. It appears to be attempting to break out of the descending channel in a wave 3 that may target 4.38.

This of course assumes that wave iv is complete. Wave iv could easily form a flat/triangle here so as to alternate with the steep wave ii. We shall see.

Note the MACD.
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