The price seems to be resuming a sharp rally after taking a brief pause. A bullish pennant pattern occurs during a dynamic market rally, representing a brief period of indecision before running off again in the same direction. The pattern consists of two converging trend lines with diminishing volume, and is confirmed when the price breaks through the upper boundary to resume the advance.
This pattern has developed over the past 9 days, which means the trade is likely to play out in the short-term.
Price Target: $6.80 – $7.20