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>
> >Subject: March SUGAR
>
> >It looks like a inverted H&S pattern is developing in March Sugar.
>
> Stig,
>
> In the .gif that you have enclosed, I find the pattern you mark is at
> the top end of the scale. Isn't a inverse head and shoulder pattern
> supposed to come at the end of long declines
Dr,
I am quoting fom Edwards and Magee "Technical Analysis of Stock Trends (2nd
edition) p181; "... occcasionally prices will go through a series of
fluctuations which constructs a sort of inverted H&S picture which in turn
leads to continuation of the previous trend. ...one of these patterns wich
develops in a rising market will take the form of a H&S bottom."
HOWEVER,"The formula for determing the probable minimum price
move...applied to consolidation patterns of the H&S form does not work out
so well."
So we might not be heading for 12,90...
Sorry about that.
Best regards
Stig
> Seems to me that even if
> the pattern looks like one (i.e.H&S), it is more vital to cross check
> whether it is really where it should be ?
>
> Dr.Narayan
>
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