UNI loves making harmonic patterns and triangle moves. After each triangle or harmonic pattern ended, price has started an uptrend wave. It is possible that UNI would make another two or three triangles or harmonic patterns before breaking the long-term down trend line and poses for a major uptrend move. These are all valid if the horizontal support area holds in the future as well.
Comment:
UNI broke the major downtrend line, made a pullback and is going up.
UNI broke the major downtrend line, made a pullback and is going up.
Comment:
So, UNI went up and also broke the minor triangle pattern's upper line. Then UNI made a correction and pulled back on the broken line. It seems UNI is almost ready for the next upward wave. Let's see what happens.
So, UNI went up and also broke the minor triangle pattern's upper line. Then UNI made a correction and pulled back on the broken line. It seems UNI is almost ready for the next upward wave. Let's see what happens.
Comment:
So, UNI made a pullback on the broken line and is going up.
So, UNI made a pullback on the broken line and is going up.
When UNI broke the horizontal support zone it was telling us it will drop even further, clearly. Now, we can see price has been oscillating in a symmetrical triangle for a while and also the corrective wave seems ended around 0.786 Fibonacci retracement. So, if the downtrend line and the triangle pattern break, the next uptrend wave could start. Let's see what happens.