Glen

Looks like a classic bull pennant to me that generally breaks higher. Not quite in the apex yet.

I have order to open short tomorrow at 363 with a SL above 373

I'm long on this on the breakout @ 367p
uk.advfn.com/p.php?pid=chartscreenshotsh...M%3D&symbol=L%5EGLEN

Regards,
Trendfriend.

This is in a nice bull pennant formation atm.(Basically the same as a bull flag).
uk.advfn.com/p.php?pid=chartscreenshotsh...Vo%3D&symbol=L%5ERIO

The good thing is its getting ready for a break out imho, if it breaks up, i will go long, the breakout would be @ around 369p, (falling daily), stops below the low of the pennant @ 354p.

If it breaks up, keep an eye on, and be flexible @ 377/380p, a break above and this could target a rise of the same size as the flag pole around 70p, so to 420p roughly.
This is also the target at the top of the rising channel as shown here.
uk.advfn.com/p.php?pid=chartscreenshotsh...nM%3D&symbol=L%5ERIO
Regards,
Trendfriend.

Resistance: 357,,363,,400,,440,,509


dl.dropboxusercontent.com/u/4899609/glen17thjuly2014.png

I'm wondering where the next resistance is ?

I don't know how to use Fibs for resistance but we've had highs of 400p back in sept 2012 and the start of 2013 so maybe that where it's going .

any thoughts ?