Bullish Pennant for TNY?
On a long-term chart for TNY, it appears as though the price has formed a bullish pennant pattern in blue.
The RSI is displaying a bullish flag.
A bearish cross has occurred on the DMI where I've placed the red downward pointing finger.
The price has noticeably broken the red downward sloping resistance of a Macro descending channel and upon back-testing has acted as support as of this moment, inherently bullish.
If the blue upward sloping support of the bullish pennant is lost ideally I'd like to see bullish buy pressure at the [previous] old red resistance of the downward sloping channel, it should act as support again if there's going to be a convincing shift from bearish to bullish sentiment.
The RSI is displaying a bullish flag.
A bearish cross has occurred on the DMI where I've placed the red downward pointing finger.
The price has noticeably broken the red downward sloping resistance of a Macro descending channel and upon back-testing has acted as support as of this moment, inherently bullish.
If the blue upward sloping support of the bullish pennant is lost ideally I'd like to see bullish buy pressure at the [previous] old red resistance of the downward sloping channel, it should act as support again if there's going to be a convincing shift from bearish to bullish sentiment.
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