This article is a guest contribution from Chris Kimble, via Doug Short, dshort.com.
Thanks to all of you who responded from all over the world in our first of a series "What do you see in this chart?" The goal of the series is to see patterns in the charts, without knowing the asset, price or date. Here again is the first chart.
Of all the respondents, two answered correctly. The most common answers were Copper and BP.
The chart above is a 30-year snapshot of a commodity, inverted (turned upside down), reflecting a falling wedge. The most common comment was "I want some of this, due to the falling wedge." Since it was upside down, what can we learn from this response?
As we can see in this post, the Dollar is breaking support of a rising wedge and the Euro is breaking resistance of a falling wedge. The rising wedge on Gold will most likely end soon.
Thanks again for viewing this chart and all of the quality responses received.
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