A Chart Setup I Really Like

Today, I'm going to be sharing a chart setup I think has a lot of potential based on some of the technical studies I use here at MarketClub.

The chart I am analyzing is Cliff Natural Resources (NYSE:CLF).

At number 1, I have drawn a downtrend line from the high around $100, all the way down to where the trend line was broken in late July of 2013. Generally, the longer the trend line, the more powerful the move when it is breached. This trend line on CLF lasted a little over two years and touched three distinct points, confirming it as a valid trend line. Continue reading "A Chart Setup I Really Like"