BEL has formed a strong rising wedge over the last 3 months or so. Currently, BEL is residing near the support line of said wedge, potentially shooting back up soon. Classically, rising wedge patterns area bearish patterns. Be aware that this is not a break-out signal, but rather a pattern continuation signal. In around 4 weeks we would be near the end of the wedge and a break-out could be formed.
Happy trading!
Happy trading!
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