- Possible formation of a Bull Flag. Flag pole formation from 12/7 to 12/8. Volume supports the potential pattern. We see a high volume at the flag pole and now forming the flag with a decreasing volume.
- Up trend and positive momentum is still intact. ADX reading above 25... trend getting stronger.
- A bounce at the 2nd trend line will signal me to buy additional shares
- Another signal for buyback is when it is about to break or upon breakout from the Bull flag
Note: If price will move down from the 2nd trend line, I might sell some of my shares as this is my warning that up trend is weakening. Bearish once it breaks down from the 1st trend line.
Harmonic Pattern Forming - A Potential Extreme Bearish Harmonic Impulse Wave
BEL is now on the process of forming the B to C leg of the Extreme Bearish Harmonic Impulse Wave. However, price is now at the level of 1.13 of the xab... A pattern called Bearish 1.13 Extension—The Failed Wave. Let's see if this will be a roadblock going north confirming the pattern or just a pause before it moves up to form the larger pattern of the impulse wave.
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