CHART ANALYSIS: CMT (BULLISH AB = CD PATTERN)

Here is some update to my chart analysis on CMT. After further analyzing the chart, I have found out that there is a another pattern that was formed. Aside from the Bullish Crab, it has formed also the bullish AB = CD Pattern.

 Figure 1. CMT Price Chart.

Then these is what my other technical indicators are telling me.

 Figure 2. Other technical indicators

Some word of caution. If your planning to buy CMT, wait for a higher high and higher low candlestick pattern to form or other signs from our indicators such as the RSI and MACD for a possible bottom swing reversal. Take note also that CMT has formed a Head and Shoulder pattern and is already extremely consolidated. A breaking of the resistance at 0.64 is very critical for once these is broken it may go down further.

 

Figure 3: Head and Shoulder Pattern on weekly chart.