Mid-Term Indicator (Main), is still down trending therefore we are expecting more momentum to downside. The earliest we can look for a move up would be if the daily Stochastics crosses up.
Thursday 4 April 2013
4 Apr 2013
Todays move looked like it was testing the bottom trend line that was broken yesterday and on top of that has created a triangulating pattern that could only be seen in 4th or B waves. Looking from yesterdays high, both counts are possible. If we are looking for a triangle, then we should count it as an ABCDE pattern to end the Triangle and expect a continued down trend.
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