There are bearish pattern failures followed by bullish pattern validations into an uptrend.
There are 2 classic patterns 1 is validated the other has not validated.
The cup & handle is in breakout and is approaching its target.
The pattern projects $0.2175 per pound as the target.
The bull flag is not validated.
This pattern projects $0.2200 per pound as the target.
Objectively $0.20 per pound is a psychological resistance level. The price for a pound of sugar has increased and the breakout from bullish patterns coinciding with the failure of bearish patterns reflect this. Volatility is declining and the rate of change has dropped below 0. Declining fear and a break in the trend's momentum.
Since the cup and handle has validated the bias is for long positions. Confirmation of the bull flag provides a starting point for trend continuation.
Not
Failure to break out of the bull flag has led to a double top formation.
İşlem aktif
Long following the retest of the cup & handle breakout.
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