GREY:STACF - Post by User
Comment by
Kruzer70on May 01, 2007 1:19pm
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Post# 12704711
RE: 5 year zinc chart - Gekomeister
RE: 5 year zinc chart - GekomeisterIt's very hard to tell if there is a developing H&S pattern. If zinc is in a H&S pattern, it would not be a good sign as H&S patterns are revesal patterns. If you take late last year's high as the possible head, this would imply a possible downside target of 0.75 which I just can't see happening. Or do you mean that late last years high is the first shoulder of a possible H&S pattern? If that is the case then my answer would be 'who knows' as it would be way too early to make a guess. One problem with H&S patterns is they tend to get overused as people tend to see them everywhere. Generally you need so see the volume to confirm them.