RAC - Charts & Price Action, page-26084

Looking at the 4H, 1D, and 1W charts here are several potential bullish patterns that emerge or are developing:

Double Bottom (W Pattern)
Timeframe: 1D and 1W
Description: This is a classic reversal pattern suggesting the downtrend may be ending.
Confirmation: Break above the resistance near $1.30–$1.35, which acted as the neckline.
Target: Around $1.60–$1.70, matching the depth of the pattern.

Inverse Head and Shoulders (Early stage)
Timeframe: 1D
Left Shoulder: March low
Head: Late April low $0.92
Right Shoulder: Early June forming near $1.10–$1.15 Neckline: $1.35
Breakout Target: $1.70–$1.80 if the neckline breaks on strong volume.

Bullish Flag / Pennant
Timeframe: 4H
Flagpole: From $0.92 to $1.50
Consolidation: Current pullback down to $1.16
Breakout Potential: If it holds above the 200 EMA and breaks out of the flag, target could be $1.70–$1.80.

Rounded BottomTimeframe: 1D and Weekly
Slow, saucer-like formation over the past months.
Resistance to Watch: $1.35 and $1.50
Breakout Level: Weekly close above $1.50 would confirm it.
Target: Possibly up to $2.00–$2.20





Key Resistance Levels to Watch
Short-term breakout: $1.30–$1.35
Mid-term target: $1.50–$1.70
Longer-term (weekly view): $2.00+