Friday, October 1, 2010

BN, uptrending, broke out of ascending triangle.



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Thursday, September 30, 2010

BN, uptrending, developing an ascending triangle in the hour charts.

An ascending triangle has a definitive bullish bias before the actual breakout. On the ascending triangle, the horizontal line represents overhead supply that prevents the Index from moving past a certain level. It is as if a large sell order has been placed at this level and it takes time, thus preventing the price from rising further. Even though the price cannot rise past this level, the reaction lows continue to rise. It is these higher lows that indicate increased buying pressure and give the ascending triangle its bullish bias.


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Wednesday, September 29, 2010

BN, uptrending, held the critical 12165, may target 12500+



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Tuesday, September 28, 2010

BN, uptrending, is poised at a critical point of reversal.



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Monday, September 27, 2010

BN, uptrending, in its blow off phase in short term.


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