Is a Rising Wedge Pattern Bullish or Bearish?
Usually a rising wedge pattern is bearish, indicating a stock that has been on the rise is on the verge of having a breakout reversal.
Indexes have bearings on the stock market market, especially the American markets. They have a large influence on world markets but if you go back to the time of the inception of the DOW, it looks like one continuous bull market chart so I think showing the ASX chart from the covid-19 scare is reasonable. No need to go back further but It certainly beats your two weeks chart.
Having said that, I am fascinated by watching magicians pulling rabbits and other things out of hats but you are able pull a bullish ascending trend channel out of nowhere and turn it into a bearish ascending narrowing wedge. How do you do that?
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If I talk about Goldman Sachs or the Federal Reserve here my post will be deleted. I'll just say if they claim lithium prices will drop 70% and people believe it, they may as well believe in the tooth fairy. I have no idea why lithium stocks across the board tanked to the extent they did today, do you? I doubt if it had anything to do with that. If I'm wrong and it did, then people do not have a clue of how little shareholders of the Federal Reserve can be trusted.
Is a Rising Wedge Pattern Bullish or Bearish?Usually a rising...
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| Open | High | Low | Value | Volume |
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| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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