#JSEWHL - Caution Rising Wedge
- WHL has had a strong rally from thr R58 swing low and has reached swing high last seen in February this year..,
- Momentum seems to be slowing and price is tested the rising 20ema.
- Failure to take back the highs could see a fade to the 200dma
A rising wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. It is characterized by a chart pattern which forms when the market makes higher highs and higher lows with a contracting range. When this pattern is found in an uptrend, it is considered a reversal pattern, as the contraction of the range indicates that the uptrend is losing strength
- Momentum seems to be slowing and price is tested the rising 20ema.
- Failure to take back the highs could see a fade to the 200dma
A rising wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. It is characterized by a chart pattern which forms when the market makes higher highs and higher lows with a contracting range. When this pattern is found in an uptrend, it is considered a reversal pattern, as the contraction of the range indicates that the uptrend is losing strength
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.