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