World stock markets – multiple head & shoulders at play?

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The interesting pair of chart patterns below comes from technical analyst Chris Kimble, courtesy of dshort.com.

Kimble said: “Even though America and Europe are thousands of miles apart, their stocks markets are acting much the same. Could line (1) be the neckline of a short-term ‘bullish inverse head and shoulders pattern? Watch line (1) closely the next few days, per is this a fakeout or a breakout.”

Source: dshort.com, April 27, 2011.

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