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Stig and RT's,
Upon looking at the graph (wheartw.gif), it would appear that the recent
candlestick patterns over the last few days represent a 'hammer' formation.
Typically, these patterns occur at the bottom of a downtrend and suggest
that the buyers are looking to take control.
John Boggio
At 03:43 PM 3/10/98 +0100, Stig Olausson wrote:
>TR's
>
>Take a look at this gigantic falling wedge in March Wheat and the
>divergence in Stoch and StochRSI.
>Perhaps it's time to take a closer look at what is happening in MAY
>wheat...
>As most of you probably know, a falling wedge is bullish and the divergence
>we see in the oscillators, are also bullish. But we are still waiting for a
>break out..
>But if we look closer, we find that we yesterday broke out of a small 4 day
>long BULLflag, with declining volume as confirmation. this bull flag has a
>potential objective which is above the higher trendline in the falling
>wedge.
>
>We can also distinguish a larger rising BEARflagg. If we place a stop and
>reverse just below the lower trendline we have a rather low risk high win
>potential.
>
>I think I will do that today!
>
>
>Regards
>
>Stig
>Attachment Converted: "c:\eudora\attach\Wheatw.gif"
>
>Attachment Converted: "c:\eudora\attach\wheatd.gif"
>
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