Update: Symmetric Triangle in Essar Oil

Update on Symmetric Triangle in Essar Oil, Stopped out at yesterdays high broken up side

Update: Symmetric Triangle in Essar Oil

Update on Symmetric Triangle in Essar Oil posted on 28th May:
Today Essar oil gave a break down with wide spreads and big volumes, and after the break out volumes increased drastically and priced dropped due to the thrust developed in the pattern. 

Below is the latest chart of Essaroil:

Below is the clear view of the breakdown:

Update: Symmetric Triangle in Essar Oil

Update on Symmetric Triangle in Essar Oil posted yesterday:

It gave a break out from the inner triangle in the opening volatility and took resistance at the bigger triangle upper trend line as expected and came down. Inner triangle is not valid now. Trade will trigger when the outer triangle breaks out with good volumes.

Symmetric Triangles in Essar Oil

Essar Oil is consolidating in a Symmetric Triangles since past 6 days. A break out or break down should take the price by 40 to 43 points.