The ascending triangle is a chart pattern that’s created when a horizontal set of highs is met by an ascending set of lows. The upper horizontal line is the resistance level, and the lower upward sloping line is support.
It is a continuation pattern, usually appearing after an uptrend. Over the course of the pattern, the market consolidates (which means the trend stalls), but if it breaks out above the resistance line then a new uptrend should form.
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It is a continuation pattern, usually appearing after an uptrend. Over the course of the pattern, the market consolidates (which means the trend stalls), but if it breaks out above the resistance line then a new uptrend should form.
You can see our analysis