The daily chart of XLI appears to show a rising wedge formation, lines c and d.
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This may have completed a rising wedge formation, which would have quite negative implications.
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The chart of the Dow Industrials shows what may be a rising wedge formation, lines a and b.
FORBES: Is Dow's Divergence A Problem?
The weekly chart shows an apparent rising wedge formation (lines a and b).
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On the daily chart, more details are revealed that would help the trader confirm that this was indeed a falling wedge formation.
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Chart Analysis: The monthly chart of the Comex gold futures shows that the longer-term rising wedge formation, lines a and b, is still intact.
FORBES: Don't Jump on the Metals Bandwagon
The weekly chart shows a falling wedge formation (lines A and B) that was completed in November 2002 when the downtrend (line A) was broken.
What is more interesting is this final fifth wave is showing a pattern that looks like a wedge-like formation, commonly known in Elliott Wave circles as a diagonal triangle.
FORBES: Elliott Waves Warn Of Big Tumble Ahead For Stocks
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