Wednesday 30 January 2008
Better Volume Indicator and Trampoline Pattern
Better Volume Indicator highlights "Trampoline" bearish pattern today. The Emini hit resistance at 1,385 and fell on heavy volume. The 1,385 level was a key resistance level left over from the low of 9 January 2008.
Better Volume Indicator (Emini 81 minute)
The "Trampoline" volume pattern is a reversal formation consisting of a exhaustion up bar followed closely by an exhaustion down bar. The momentum of this pattern usually results in a follow through, in this case to the downside. The next significant support level is 1,324. Let's see if the Emini reaches that level.
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