USB - Strong Investor Hold (possible ascending triangle)
This USB chart is almost linear since late 2011 to date. Which is very nice, and preformed just under 200% since late 2011. USB is a strong linear chart for a passive investor.
It is beginning to fill out an ascending triangle. If this ascending triangle plays out - it is either a bullish case, or a continuation pattern (for very long term investors). This possible pattern is so far out I would not recommend incase of a US correction recession before the end of this pattern scenario.
For traders, it looks like the 200 EMA is about to cross back above the 50 EMA. Also, it is respecting the diagonal support. the 1H - 4H timeframe is also showing another smaller ascending triangle - indicating a continuation above the $52 rage.
It is beginning to fill out an ascending triangle. If this ascending triangle plays out - it is either a bullish case, or a continuation pattern (for very long term investors). This possible pattern is so far out I would not recommend incase of a US correction recession before the end of this pattern scenario.
For traders, it looks like the 200 EMA is about to cross back above the 50 EMA. Also, it is respecting the diagonal support. the 1H - 4H timeframe is also showing another smaller ascending triangle - indicating a continuation above the $52 rage.
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