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These bottoming patterns have been difficult to trade in this environment until more signs of bullish technical action appear (e.g., +WRB breakout on volume, Bullish Shakeout, higher pivot highs and lows). Although the weekly and monthly charts are still in downtrends, this huge rounding base suggests buying interest so keep it on your long watch list.
source: mastertrader
These bottoming patterns have been difficult to trade in this environment until more signs of bullish technical action appear (e.g., +WRB breakout on volume, Bullish Shakeout, higher pivot highs and lows). Although the weekly and monthly charts are still in downtrends, this huge rounding base suggests buying interest so keep it on your long watch list.
source: mastertrader
