As the last 24 hours selling didn't take us lower than last weekends bottom it does appear that this last day's downwards movement is part of the overall upwards bull market . (check 4 hour charts to see) As the market realises that it's turned there should be some big runs ahead. Exciting times ahead!
I am new to trading and enjoy spotting geometries and patterns within the charts.
Comments
JustFish
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Thanks for the comment Abandon. It does seem to a bearish pennant. My bad Im still learning the formations and their implications! Much appreciated!
Abandon
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Bearish Pennants almost always break downward, Falling Wedges on the other hand have the chance to break upward. But I don't really know that much yet, so I could be wrong. Also the wave count seems to suggest the possibility of some support at 95-94. But again, who knows. .