Dow Industrials May Be Forming a Triangle Chat Pattern

Gold Silver Reports – Dow Industrials May Be Forming a Triangle Chat Pattern — The two converging trend-lines in the chart below show the Dow Industrials forming a potential “symmetrical triangle” (which has one trendline falling and the other rising).

Triangle Chat Pattern

The falling trendline on top is drawn over its January/February peaks. The rising trendline is drawn under its February/March lows. This is also a continuation pattern which favors an eventual upsidebreakout. The key to the resolution of the pattern is which of the two trendlines is broken first. A break of the lower line would be negative, while a break of the upper line would be positive.

Technical odds favor the upside which would also put the Dow decisively above it March high and 50-day average. A Dow Industrial upside breakout would be more bullish if it’s accompanied by a similar upside breakout by the Dow Transports. – Neal Bhai Reports (NBR) INDIA

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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