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33.3¢ echo resources limited

EAR has blasted out of its 2010-2017 Ascending Triangle...

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Rothbard

619 Posts.

47

08/12/17

10:41

Post #: 29478812
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Originally posted by Rothbard ↑

Well the huge symmetrical triangle scenario didn't play out - EAR broke straight back down through the top of the triangle. But the bottom of the triangle - in effect, the long term uptrendline from 2009 - did hold, and EAR has blasted upwards after testing it. In doing so, it also broke to the topside from a 12 month long bullish Flag formation.

So now we have EAR in a huge Ascending Triangle dating back to 2010, with the top at 27.5c. This is a bullish formation and I anticipate a test of the top of the triangle within the next year or so and, ultimately (hopefully), a break through the top and into new highs.

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EAR has blasted out of its 2010-2017 Ascending Triangle formation - to the topside, as expected.
Very bullish.
The all time high of 41c (May 2007) now beckons... and above that there's nothing but blue sky.

EAR Price at posting: 33.0¢ Sentiment: Buy Disclosure: Held
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