Ascending triangle

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Industrials Back Test Their Ascending Triangle Breakout Ascending Triangle, Winners And Losers, Triangle Pattern, Stock Market

Over the past week, it's been about an even split among sectors in terms of winners and losers. Industrials (XLI) is one sector that's been slightly lower over the past week, but technically things still look very bright in this space. Broken price resistance generally becomes solid price support - that's TA 101. In the case of the XLI, broken price resistance also was the top of a very bullish ascending triangle pattern as you can see below: After the XLI rose well above 68, we saw it…

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