This is textbook... gorgeous ascending bullish triangle with defined support and resistance levels....
Inside the pattern the selling pressure continued to be reduced bringing about higher lows and ever slightly higher highs within a defined space.
Breakout on volume occurs to the upside as expected followed by a retest of the old resistance as NEW SUPPORT ...
The current pullback now seen is on reduced volume which means there is no convincing selling at the moment.
This is also bullish!
Inside the pattern the selling pressure continued to be reduced bringing about higher lows and ever slightly higher highs within a defined space.
Breakout on volume occurs to the upside as expected followed by a retest of the old resistance as NEW SUPPORT ...
The current pullback now seen is on reduced volume which means there is no convincing selling at the moment.
This is also bullish!