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#JSEWHL - Caution Rising Wedge
- WHL has had a strong rally from thr R58 swing low and has reached swing high last seen in February this year..,
- Momentum seems to be slowing and price is tested the rising 20ema.
- Failure to take back the highs could see a fade to the 200dma
A rising wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. It is characterized by a chart pattern which forms when the market makes higher highs and higher lows with a contracting range. When this pattern is found in an uptrend, it is considered a reversal pattern, as the contraction of the range indicates that the uptrend is losing strength
- Momentum seems to be slowing and price is tested the rising 20ema.
- Failure to take back the highs could see a fade to the 200dma
A rising wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. It is characterized by a chart pattern which forms when the market makes higher highs and higher lows with a contracting range. When this pattern is found in an uptrend, it is considered a reversal pattern, as the contraction of the range indicates that the uptrend is losing strength
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.