The long term descending triangle
formation) and a medium term symmetrical triangle (neutral formation) both come to a conclusion rather soon. The shorter term triangle should conclude within the next few days and that break up/down should also finish the longer term triangle.
Outlook is neutral/ bearish
. This doesn't mean that the price can't break upwards of course. Within the last few months I have seen many short term ascending triangles ( bullish
) actually break down.
Personally, I no longer see any shape formation as bearish
, rather a 'channel' between 2 resistances - one of which must break!