Sunday, June 08, 2008

THE TRAVELLERS COMPANIES INC. - TRV

Monthly chart shows a double top into the $57 level. No buy signal/pattern evident on this timeframe.

Weekly chart shows consolidation/trading range after a low was made January 2008. Currently price is below all key moving averages on this timeframe. Since this move is corrective, look for eventual lower low to be made.

Daily chart shows strong selling pressure on Friday, as the bears gapped down the open, and sold off hard into the close. Look for a re-test of the January 2008 low before lower.

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