Another bull pennant appearing on the daily chart. The formation seems ripe for some action (3 month formation + declining volume + constricting bollinger bands).
I would rate this setup a 60% chance of success due to the following reasons:
• 3 month formation
• Flag appearing above the 200ema
• Candles at the end of the pennant show positive signs e.g. dragonfly doji on support, no real rejection from the top-end of the pennant
• Visible signs of bounces on the bottom of the pennant.
• Possible MACD crossover
Bearish sentiments
• Trade tarifs
• Lithium over supply fears (total BS in my opinion, but the market seems to buy it)
Low risk, high reward trade, I'll be watching closely the next few days.
I would rate this setup a 60% chance of success due to the following reasons:
• 3 month formation
• Flag appearing above the 200ema
• Candles at the end of the pennant show positive signs e.g. dragonfly doji on support, no real rejection from the top-end of the pennant
• Visible signs of bounces on the bottom of the pennant.
• Possible MACD crossover
Bearish sentiments
• Trade tarifs
• Lithium over supply fears (total BS in my opinion, but the market seems to buy it)
Low risk, high reward trade, I'll be watching closely the next few days.
Aviso legal
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.