Ascending Triangle into Dynamic Resistanc- Breakout possibility
Ascending triangle
Momentum increasing on stochastic , RSI and MACD
MACD showing uptrend
Divergence at beginning of ascending triangle signalling loss of downward trend momentum.
Somewhat of a inverse head and shoulder pattern
Currently no sign of divergence to signal a reversal of immediate uptrend
Will need to breach both the 50 EMA, 200EMA and resistance level to breakout above
Momentum increasing on stochastic , RSI and MACD
MACD showing uptrend
Divergence at beginning of ascending triangle signalling loss of downward trend momentum.
Somewhat of a inverse head and shoulder pattern
Currently no sign of divergence to signal a reversal of immediate uptrend
Will need to breach both the 50 EMA, 200EMA and resistance level to breakout above
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.