Daily Chart
Rising wedges are very bearish and give reliable short sell signals. The rising wedge on friday broke down giving the sell signal which lived up to it's expectation today with a gap down open. The bulls were too beaten down to try to cover the gap.The previous swing low at 4944-4928 was broken easily. The target of 4623 seems achievable.
Daily Chart II
A falling wedge spotted ! They are the opposite of rising wedges and breakout on the upside. Seems like a dream at the moment.
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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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