Teco Energy – short position.

8 dic 2014

The double top pattern at 19.85 was trying to shape up on the daily chart. This was the key level, which was shown by strong bearish engulfing at the level at the beginning of November. After testing the level, the gauge started to head south. RSI divergence adds confidence. Short positions may be opened with the 19.20 target, the bottom of the pattern. If the formation of this pattern occurs, the gauge will move toward 18.50 after breaking through its bound – the size of the pattern and the left support level.


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