AU BANK WILL BREAKOUT OR BREAKDOWN ??? What is a Symmetrical Triangle:-
A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope.
The price forms symmetric triangle pattern on daily and weekly chart. The price perfectly following the ascending parallel channel and price persisting itself and also taken support many times.
What if price Breakout upside:-
If price will breakout upside than we can expect a good rally towards upside as price following symmetric triangle pattern & upper descending parallel channel from a very long time and trading under the range of the triangle pattern. Breakout towards upside can also takes the price at all time high level.
What if price Breakout downside:-
If price breakdown downside than we can expect good fall towards downside as price respected and following lower descending parallel channel and taken support many times. If price breaks this support than it will leads to a good fall in price.
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