We created a pennant within the big triangle. Looks like the price will play around the pennant for a couple of days and after that could break it down looking to touch the base of the big triangle. This big triangle actually look more like a rising wedge than anything else, and you´ll know what happens when a rising wedge is formed after a big long term downtrend. Meanwhile ADX is loosing strength in the main TF´s and is forming bearish divergences everywhere.
But for now we have to pay attention to breakdown of the pennant and after that to the base of the wedge, since we don´t want to be trapped by bulls and so far at least the first 15-20 days of April looks pretty well for a rally.
As always I´ll keep you guys updated, thanks for your support :)
But for now we have to pay attention to breakdown of the pennant and after that to the base of the wedge, since we don´t want to be trapped by bulls and so far at least the first 15-20 days of April looks pretty well for a rally.
As always I´ll keep you guys updated, thanks for your support :)