Here we have three signals to look at:
1) Descending channels, bearish moves (red).
2) Lower lows (yellow).
3) Bullish breakout (far right).
The bullish breakout completely breaks the lower lows/descending channels pattern.
This move is supported by a strong RSI and rising volume, which means it is a real move rather than a fake breakout (bull-trap).
Since this is a real move based on chart signals, we can expect a bullish trend to develop now that the downtrend is over.
Growth potential can be seen on the chart.
Thank you for reading.
Your support is appreciated.
I am wishing you a lovely week and happy new year.
Namaste.
1) Descending channels, bearish moves (red).
2) Lower lows (yellow).
3) Bullish breakout (far right).
The bullish breakout completely breaks the lower lows/descending channels pattern.
This move is supported by a strong RSI and rising volume, which means it is a real move rather than a fake breakout (bull-trap).
Since this is a real move based on chart signals, we can expect a bullish trend to develop now that the downtrend is over.
Growth potential can be seen on the chart.
Thank you for reading.
Your support is appreciated.
I am wishing you a lovely week and happy new year.
Namaste.
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