Wednesday, May 12, 2010

Yanlord Potential Inverted Cup and Handle Formation



The giant dome structure has transformed into a potential giant inverted cup and handle formation. A breakdown below the blue support zone confirms this bearish pattern and will probably result in a fall towards the orange dotted support line. Further weakness may see a retest of the green dotted support band.

Take note that there may be formation of multiple handles if bullish buying support defends the blue major support zone of this potential inverted cup and handle pattern.

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