I highlighted bullish “ascending triangles” in the Trucking and Railroads post. (see post here) Another potential bullish pattern is taking shape in the Transportation ETF (IYT) below.
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Game Plan… Potential “Inverse Head & Shoulders” pattern at hand (ascending triangle/cup and handle too). Neckline is the big key. I am watching IYT closely! Will plan on being a buyer with a stop, if the neckline is taken out to the upside. Bullish pattern if price can break the neckline!