Is a crash looming over ? Charts showing head and shoulders top reversal patterns

bunny

Well-Known Member
#1
Here is SENSEX closing chart after today's (7 July 09) closing. Please see the attached image. I can see a well-defined head and shoulder pattern - which is a top reversal.

Also, the indices had gapped up at the same level at election results and I remembe reading in Thomas BUllowski's books that gaps will again tend to occur at same levels when in opposite direction.

All technical analysts are requested to offer their opinions on this(since I am a relatively novice).

The pullback to the neckline which we saw today after budget days free fall: can be considered as a pullback after which downtrend will continue?

Thanks,
-Bunny.
 

Attachments

MurAtt

Well-Known Member
#3
Text book says the b/o or b/d will be with greater volumes i.e. in the right shoulder.
Here the case is different. Also ALL TDH expecting 3600 ...

Get the point ....

My opinion and I could be wrong ....

:)
 

sudoku1

Well-Known Member
#8

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