See the prior post for an explanation of the lines. Today’s chart is positive in that the upper line forming the wedge has been broken to the UPSIDE. That must hold on a closing basis of course to validate the move and the negation of the bearish rising wedge. (Chart provided courtesy of Worden Brothers, Inc. at FreeStockCharts.com.)
Falling BACK DOWN through the wedge would be VERY BEARISH, so follow this chart along with me.
Happy Investing and Trading,
David
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