Diamond tops formation seems developing for TGL.TO

١٩ سبتمبر ٢٠١٦

Not sure whether there is a single person on this website who even ever heard about this Canadian oil company but I just find it interesting that a diamond formation seems to be in progress on its daily chart. The pattern resulted from TGL's recent fail to penetrate what seems to be the oldest support-turned-into-resistance trendline. But given the indicators trend, the resistance is expected to eventually fail after longs pay a tribute visit to the $2,00 area.

Though not as rare as diamonds of the real world, such patterns are still not as frequent as triangles, flags, wedges, H&S etc.

٢٥ سبتمبر ٢٠١٦

ملاحظة

The price is very likely to bounce off the uptrend line in the $2.20 area, hence, never dropping to $2.00 as initially indicated above.