So far I like what I see for this large descending triangle to be a reversal pattern.
Price broke out to the upside and is returning to the break point as of this writing. With indicators showing favor for the bulls to get this trend started, the throwback to the trend line should find buying interest to bounce the market higher again.
If this is a breakout, the target is marked. Lets see if we can close the next couple days above this this trend line to solidify a break and signal an off to the races call.
Thoughts?
Price broke out to the upside and is returning to the break point as of this writing. With indicators showing favor for the bulls to get this trend started, the throwback to the trend line should find buying interest to bounce the market higher again.
If this is a breakout, the target is marked. Lets see if we can close the next couple days above this this trend line to solidify a break and signal an off to the races call.
Thoughts?