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I stand corrected, these are triangles rather than wedges: bullish with flat
top in daily - and bearish with flat bottom in 45 min. When the 45 min
reversed south this morning I thought the opposing charts might be of
interest and dashed the charts off while I had trades on. I did not take
care in my wording. For purists I will note that in the futures it is not
uncommon for either line to be penetrated however one needs to generally
watch for multiple hits and the overall patterns. The divergence between
daily and 45 minute patterns demonstrates the uncertainty of a market which
wants to move up but is under significant pressure. It is has been
exceedingly difficult to day trade for the past several days.
Earl
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