The fall from the rising wedge continued with the early part of the session making an effort to recover thus forming an Outside Day pattern. This is a reversal pattern indicating a leg up to touch the resistance line of the expanding triangle which has developed with the yo-yo action. This resistance line nearly coincides with the 50 dema.
If the reversal fails the fall towards the rising wedge and bearish head and shoulder target of 8710 continues.
follow me on twitter http://twitter.com/#!/lucksr
Happy Trading !!