Uptrend Line

Uptrend Line

In technical analysis, a line on a chart indicating a consistent upward movement in price or some other variable. For example, if inflation is increasing over time, this may be expressed as an uptrend line on a chart.
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We might be looking for a test of the very long-term uptrend line at the 2350-2325 area.
At the same time a daily close below the bottom of the pattern will also trigger a breakdown below the long-term uptrend line. Since this is a long-term line a daily close below it could well lead to further selling.
Based on indicators, Papa Securities said the index might move sideways after falling below its long-term uptrend line. It sees major support at the 8,050 and resistance at 8,757.
It is imperative to stay above the mentioned level over the medium and the long term in order to maintain the uptrend line. Technical Indicators are still flat and we reiterate the support and resistance level between 11,800 and 12,600, respectively.
The uptrend line was breached to the downside briefly but the index closed above it by the end of the week.
Meanwhile, an uptrend line is crossing with the short-term moving average, which is considered a critical point to decide on the next move direction, but an increase in volume could lift the index above this barrier.
Dubai lost 0.6 per cent to 2,632 points, once again leaving it on top of support on an uptrend line from early July;
It tested and held support on an uptrend line dating back to early July.
Beyond any potential jitters this week though, technical charts pointed to more gains for the FTSE 100, pushing the index back above the four-month uptrend line.
Technically, the MICEX index is set to adjust to break down the important support level at 1,450 points, which will lead us to a medium-term uptrend line around 1440 points, which already have to break his head over further promising movement.
"The (http://gold.bullionvault.com/How/GoldPrice) Gold Price [should then] retest the 2011 uptrend line at $1503.27 within a few weeks."
Technically, yesterday was the second day of testing a level below the lower Bollinger Bands and where the close came below the uptrend line. For the coming days more weakness or sideways moves is more likely, the FTH said in its daily market commentary.