TRP., update

Trans Canada Pipe just does not want to budge. Since June or so it hangs around this level but it has developed a fairly clear B-wave and should collapse once complete. Here are the charts;

trp oct 28 2011 trp oct 28 2011 s

The single 5-wave sequence down, followed by an irregular B-wave up , reaching for a new and false high, is a very common pattern and promises a fairly swift collapse once the B is done. It needs only a minor 5th. We will see.