See the BLX long term chart. There is a pattern. There are three symmetrical triangles or bullish pennants in 2010-11 then a ladder up to the $32 peak, then a chute down (bear market).
Then in 2011-13 once again three symmetrical triangles or bullish pennants, then a ladder up to the $1177 Nov 2013 peak, then a chute down (bear market).
Then in 2015-17 once again three symmetrical triangles or bullish pennants, then a ladder up to the $19764 Dec 2017 peak, then a chute down (bear market).
There has been a bull move up off the $3148 Dec 2018 bottom to the $13868 Jun 2019 top. Now the first triangle since popping up over the weekly ema ribbon. The 20 wma (or the ribbon) has consistently provided support in previous bulls. Also since every triangle or bull pennant in a bull market has broken to the uspide, there is every reason to think that this triangle (which some could interpret is descending or symmetrical) will also break to the upside. Nine previous bull market intermediate triangles or pennants; nine breaks to the upside. Break out to the upside % = 100%.
This triangle will also break to the upside; the 20 wma is and will provide support now and in the future IMO.
Then in 2011-13 once again three symmetrical triangles or bullish pennants, then a ladder up to the $1177 Nov 2013 peak, then a chute down (bear market).
Then in 2015-17 once again three symmetrical triangles or bullish pennants, then a ladder up to the $19764 Dec 2017 peak, then a chute down (bear market).
There has been a bull move up off the $3148 Dec 2018 bottom to the $13868 Jun 2019 top. Now the first triangle since popping up over the weekly ema ribbon. The 20 wma (or the ribbon) has consistently provided support in previous bulls. Also since every triangle or bull pennant in a bull market has broken to the uspide, there is every reason to think that this triangle (which some could interpret is descending or symmetrical) will also break to the upside. Nine previous bull market intermediate triangles or pennants; nine breaks to the upside. Break out to the upside % = 100%.
This triangle will also break to the upside; the 20 wma is and will provide support now and in the future IMO.