I reckon a Chart thread is overdue for this "sweetie".
After a year-long decline, during which the sp dropped by half, a Cup&Handle pattern has evolved. While traditionalists consider these patterns more commonly after a rise, using the Fibonacci Extrapolation on the assumption of a continuation, I find the associated targets apply equally well in the case of a bottom reversal.
Thomas Bulkowski takes a similar position, so I'm not alone
http://thepatternsite.com/cup.html
Especially when Fibonacci Extensions come out near historic supp/res levels, the approach increases in confidence.
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