another touch on the trend line - there is a few doing the rounds at the moment
next week should see some action
lower highs - higher lows
Symmetrical Triangles Explained
A symmetrical triangle chart pattern is a period of consolidation before the price is forced to break out or down. A breakdown from the lower trend line marks the start of a new bearish trend, while a breakout from the upper trend line indicates the beginning of a new bullish trend.
Key Takeaways
The symmetrical triangle is a commonly observed pattern in technical analysis of financial markets.
Symmetrical triangles occur when a security's price consolidates, generating two converging trend lines with opposite slopes.
A symmetrical triangle's breakout or breakdown targets are equal to the distance between the initial high and low applied to the breakout or breakdown point.
CHN Price at posting:
$1.40 Sentiment: Hold Disclosure: Not Held
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