Monthly chart shows divergence going into the February 2007 high. Trendline in place remains intact.
Weekly chart shows ugly bearish engulfing candle reversal pattern. Possible 5 waves up into the February 2007 high. Trendline has been broken. Resistance currently is at the $78.00 and then the79.50 area.
Price is currently trading below shorter term moving averages -- However, price remains above the 200sma at this time.
Monday, March 19, 2007
IWM Chart Analysis for 03.19.2007
Posted by TraderZ at 3/19/2007 04:16:00 PM
Labels: IWM
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