Easy chart pattern : ascending triangles

Ascending triangles occur when there is a resistance level and a slope of higher lows.  The buyers cannot seem to exceed a certain level.  However, they are gradually pushing the price up.

So the question is - Which direction will it go? - Will the buyers be able to break that resistance or not?

Nobody knows.  Just wait for confirmation.  Sometimes the resistance level is too strong, and there is simply not enough buying power to push it through.  Sometimes, the buying power is strong and the price breaks the resistance.  It continues to go up and never looks back.

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