It has a good pattern forming, and looks like it could move higher.
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The chart pattern forming looks like a hopeful double bottom in which the August 9 lows are tested successfully.
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Some fresh near-term technical damage was inflicted Thursday to raise the specter of a bearish double-top reversal pattern forming on the daily bar chart.
But the bulls do not want to see follow-through selling pressure on Friday to produce a bearish weekly low close and raise the specter of a bearish double-top reversal pattern forming on the daily bar chart.
No chart damage has occurred recently, but the bulls are still a bit worried about the specter of a bearish double-top reversal pattern forming on the daily bar chart, if gold prices show more losses this week.
No chart damage occurred Monday, but the bulls do not want to see good follow-through selling pressure on Tuesday that would likely produce some near-term technical damage and raise the specter of a bearish double-top reversal pattern forming on the daily bar chart.
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Two weeks ago, it seemed pretty clear that a pendant pattern was forming.
Still, a bullish double-bottom reversal pattern may be forming on the daily bar chart.
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In early June, SPY violated the May lows, and in July, it decisively violated the lows from 2008 and 2006, thereby forming a pattern of lower highs and lower lows.
The bulls need to step up and show fresh power soon to avoid further near-term chart damage, as a bearish pennant pattern may now be forming on the daily bar chart for April gold.
For the 12, 000-seat basketball arena, architects at Wilkinson Eyre devised a rapidly erected steel-frame system shrink-wrapped with a white PVC skin, the curved steel stretchers forming a pattern of alternating diagonal projections on the outside.
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He then placed a grille a piece of cardboard with three squares cut out in a diagonal pattern on top of the table, and started forming words by reading off the syllables as he moved the grille across columns and down rows.
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The stock may be forming a cup-with-handle base, the most common pattern that winning stocks form before rallying higher.
The two almost equal lows and the volume pattern suggested that a double-bottom formation (points 1 and 2) might be forming.
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