Here is a larger time frame painting the same pennant, but w/larger pole. This illustrates the value in zooming out to evaluate large timeframe charts. The more I stare at this, the more obvious and pronounced the bull flag is. All someone like myself can do is use the data that is given to me to make educated and informed decisions on where we may possibly go next. We'll know at latest by mid-October.
First of all, it's no bull flag. More like a running triangle with a double top on the 0.618 retracement of the longterm bear trend.
And most important, if the price is creeping all the time near a trendline, it will break towards those side! ;-)
And most important, if the price is creeping all the time near a trendline, it will break towards those side! ;-)