I am going to go into some detail regarding what I undertstand of the market in general. So if you're up for a read thanks for sitting with me...
premise:
although ascending wedges are normally a continuation of trend pattern, sometimes they appear at market bottoms signalling a reversal. Could this be one?
The projected target of this wedge (measured by its base) puts us at 8,400. If we are just considering the smaller wedge (with the base line formed between RH1 and RL2) the target is 8,1.
Signals for bullish break:
structure of ascending wedge met
receding volume
buying pressure
accumulation steadily rising
combined depth chart buy wall strong for last 6 hours
However, for some reason I can’t refrain from being suspicious this will not break upwards.