Today we will analyze the stock WESTERN GOLDFIELDS INC (WGI.TO) for internet stock trading in the TO stock market,
Stock Technical indicators to notice in WESTERN GOLDFIELDS INC (WGI.TO)
1- Last bullish trend was from 3.22 $ (6/1/2009) to 3.33 $ (6/2/2009) a 0.11 $ move 2- The current bearish trend started from 3.33 $ at 6/2/2009 and is currently trading at 3.02 $.
3- According to ADX Indicator, the trend is currently strong bullish,which is becoming weaker.furthermore, the ADX indicator location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
WESTERN GOLDFIELDS INC (WGI.TO) Short term stock chart patterns for internet stock trading :

4- The Stock formed a 1.150 $ height triangle which was broken up at 3.020, target of the pattern is 4.170 which was broken down at 3.020, target of the pattern is 1.870.
WESTERN GOLDFIELDS INC (WGI.TO) Mid term stock chart patterns for internet stock trading :

5- The Stock was supported by a support line, identified by two points: 2.350 and 2.150 that was broken down at 3.020 transforming into a resistance line.
WESTERN GOLDFIELDS INC (WGI.TO) Long term stock chart patterns for internet stock trading :

6- The Stock was supported by a support line, identified by two points: 2.150 and 1.810 that was broken down at 3.020 transforming into a resistance line.

Stock Trading Conclusion:
WESTERN GOLDFIELDS INC (WGI.TO) was trading in a strong bullish wave, which is becoming weaker .
Technical indicators and stock chart patterns show highly volatile movements favoriting bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy in online trading , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles in online trading. .

Stock Resistance Levels : 3.09, 3.14, 3.17, 3.21, 3.33, 4.17, 11.48, 23.31, 55.32.
Stock Support levels : 1.87,.