Impressive Pattern for Teck

Within an otherwise increasingly nervous and uncertain trading environment, Teck Resources (TCK) exhibits a very constructive and potentially powerful pattern.

All of the action off its July 5 high at 53.60 represents a high-level consolidation/continuation pattern that when complete should resolve in an upside thrust that projects to 55.00-56.00.

At this juncture, only a sustained break of 50.00 will morph the July pattern into a deeper corrective move.