AntMwah

Symmetrical Triangle - Good probability of break higher

Long
LSE:TXP   TOUCHSTONE EXPLORATION INC COM NPV (DI)
Symmetrical triangle with a false breakout 5th touch. Price distributing nicely across the demand area at 14.75 & onto the rising 200DMA. This should narrow over the next week or so & high probability to break higher. Although the present setup is a triangle, the convergence of the supply areas (horizontal supports/resistance) and the fib levels on this chart are very likely to make the overall completion look a lot like an inverse head and shoulders.

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