A clean Rectangle often precedes a big move. Validate your entry.
Sideways movement between parallel supports.
Bearish continuation pattern.
Bearish continuation if preceding move was down.
A clear signal has emerged for Colgate-Palmolive (CL) on the daily chart. Currently at $84.16, the asset is showing upward momentum (0.21%). Price action has carved out a classic Bearish Flag. The trend indicator is reading 3.1/100, suggesting moderate momentum. A potential breakout level is identified at $83.03, targeting $66.73 with support near $86.4 (R:R 4.84).
What is your outlook on CL?