That's not promising, this looks like a bear flag
Post# of 72
Posted On: 08/27/2012 5:10:19 PM
That's not promising, this looks like a bear flag pattern which is where there is a down move, sideways consolidation at the lows, indicating another down move. Price is below all moving averages. If it can recapture the 50 DMA on a closing basis, maybe it is showing some fight but we have 2 weeks of light volume ahead of us and that favors downside.
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