Descending Triangle on ABS

ABS is consolidating within a triangle formation and as it move, the area becomes narrower. We could see lower highs and a horizontal line which we call the Descending Triangle. Are we going to see a break on ABS soon?

Most of the time the price will eventually break the support line and continue to fall.

However, in some cases the support line will be too strong, and the price will bounce off of it and make a strong move up.

Caveat!

One Response to Descending Triangle on ABS

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