"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Thursday, October 28, 2010

Two views that would give me pause if I were shorting the $DJR

For blog commenter Sunnyview... Daily chart Ascending Triangle breakout with target way up there... caveat to bull case:  it's in a rising wedge (not delineated).











Weekly shows current resistance simply must hold or bears are cooked.  Even if it holds, there is potential support at or about the moving average.