TOTAL2 descending broadening wedge

8 mar 2020

TOTAL2 has formed a descending broadening wedge on the intraday hourly chart, this is a reversal pattern. Each, the support line and resistance line must be touched at least twice to validate the pattern. On the 4H chart a cluster of Fib EMA's can be observed to be around the area of 78B, strong support area. On the weekly chart the price can be seen to be consolidating in the middle of the Gaussian channel trend, if this breaks upwards it will be massive.