Look like a right angle triangle forming. Breakout imminent?

When this level gets breached, either to the upside or the down, should we expect a breakout in either direction ? In my mind this is a bullish signal with a bullish breakout on the horizon. Expo If the fed is done tightening, and when recession hits (due to their rate hikes), this may lead to a loosening of monetary policy.

This funny thing is that their one trick pony wasn’t necessary. Inflation was caused by supply/demand imbalance, not excessive bank lending. So raising rates to curb something which wasn’t excessive just crashed the economy for no good reason but bravado.