8.30.2012

Expecting the third range day?

As prices closed the day above 1408.50, I continue to expect a positive closing today.
A bullish symmetrical triangle is forming on the 15min chart. The support would happen at the third contact of the prices with the upward slant. 
Unaware of the bullish symmetrical trianglebulls need to challenge the target 1414.60-1416.20 before doing the next one at 1420.60-1423.40.
The bearish scenario would target 1403.00-1405.59 before making the next low.



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