Asiaply 0105
Initially after prices peaked, the trend switch to a steep downtrend staying below the 1/1 Gann Resistance. Until this year, we see a trend switch from downtrend to potentially a ranging uptrend pattern.
The first sign of trend switching would be the break of the first resistance 1/1. The second sign is the small inflow of monies and the third sign is the higher low that have been forming recently. Combining all three factors here, show signs that a potential uptrend is about to come. But the last confirmation is when prices break above the Triangle, which determines the direction of the trend.
If prices are able to break above the 4/1 resistance, we may start to see a potential uptrend because it proves that the double Pitchfork Support is Valid and the Resistance is slowly getting invalidated.
Let's observe.
Industry: Chemicals.
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