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If pennant evolves into a falling wedge, it should be fine as...

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    If pennant evolves into a falling wedge, it should be fine as Falling Wedge is supposed to be bullish!


    The falling wedge pattern is characterized by a chart pattern which forms when the market makes lower lows and lower highs with a contracting range. When this pattern is found in a https://hotcopper.com.au/data/attachments/1296/1296475-0de11d5a039f1848f90f4fb15cfcdbee.jpg
    downward trend, it is considered a reversal pattern, as the contraction of the range indicates the downtrend is losing steam. When this pattern is found in an uptrend, it is considered a bullish pattern, as the market range becomes narrower into the correction, indicating that the downward trend is losing strength and the resumption of the uptrend is in the making.



 
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