Chesapeake Energy Corporation (CHK) has created a Cup with Handle continuation pattern over the last 60 days. This continuation pattern indicates CHK could climb to 45 if it breaks the lip at 41 on heavy volume. After breaking the lip, CHK should retrace back to resistance turned support. At the that point, going long could yield upside results.



StreetTRACKS Gold Trust ETF (GLD) has created, and broke out of a Bull Pennant, over the last three months. The measured move on the Bull Pennant breakout indicates that GLD will continue to climb above 90 and should break 97.50. Considering that GLD is below 90, this could offer us a good opportunity.



Andy Swan is co-founder and head trader for DaytradeTeam.com. To get all of Andy's day trading, swing trading, and options trading alerts in real time, subscribe to a one-week, all-inclusive trial membership to DaytradeTeam by clicking here.