Monday, January 24, 2011

XAO short term update.

A short term update today on the recent reversal...

In the last post a point was made that under the ending diagonal pattern, a further push upwards could occur and thus ending this wave. This occurred, and last friday we saw a reversal down to the supporting trend line of the ending diagonal.

I strongly suggest that the ending diagonal is complete and the wave (c) top shown cannot be broken for this pattern to remain valid.

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