NEAR descending triangle
Start of the week analysis:
On the weekly chart we can see a structure forming on the NEAR chart. This is a form of a W which means that when the W forms we will have a huge price action to the upside. On the daily we can clearly see a descending triangle. In general this indicates a bearish pattern for the short term and would mean that we will be consolidating a bit more before going back up. At the moment we need to focus on the weekly chart where the bullish W structure is forming.
On the weekly chart we can see a structure forming on the NEAR chart. This is a form of a W which means that when the W forms we will have a huge price action to the upside. On the daily we can clearly see a descending triangle. In general this indicates a bearish pattern for the short term and would mean that we will be consolidating a bit more before going back up. At the moment we need to focus on the weekly chart where the bullish W structure is forming.
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