Back on May 8th I wrote about a double top pattern being activated with a close below 635.07. The objective of 580.87 was achieved on September 23rd. It took 4 months to reach this point with alot of sideways action before the big breakdown. This isn't surprising given the huge run-up in this index. There was alot of bullish energy to shake off. The question now is will we see a move back to recent highs OR is the commodity top already in at the April highs?
Tuesday, September 27, 2011
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