Ann: Phosphate Fertilizer Project Update, page-357

The chart might now be seen as forming a cup and handle pattern. The handle section (correction from the RHS rim of the cup) might be short lived depending on timing of news or perhaps anticipated timing of news.
These patterns are open to interpretation. I could also have extended the base of the saucer as shown in the second chart below to make the RHS more symmetrical with the LHS. I think this is the more correct interpretation. Either way, both saucers and cup and handle patterns are considered bullish.The important point about these chart patterns is that the sp decline slows to form the LHS as selling slows, the price flattens off to form the base as buying interest matches selling interest and then the price gradually rises on the RHS as the buying interest begins to outweigh selling.





The sp rise usually accelerates very quickly after the sp breaks out above the rim of the cup or saucer. Offtake news could (should) give us that breakout.