Thursday, April 26, 2012

DOW Futures Daily Chart : RISING WEDGE & Preempting the Formation of H&S Pattern

DOW Futures Daily Chart : RISING WEDGE & Preempting the Formation of H&S Pattern.
From the chart it indicate that it has formed a rising wedge pattern, the pattern would be confirm on break of rising trend line (i.e. around 12950) which will act as interim support. If its broken the rising trend line of wedge with the support of good volumes then the next area of support is seen around 12690. on higher side resistance is seen around 13200-13250 levels.
Around the level of 12690 it will generate the H&S Pattern.

Trade with stop loss only.

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