A Bullish pattern has developed within the bearish Butterfly pattern.
BEARISH BUTTERFLY PATTERN:
XA = 5912-5197
B = 5740
C = 5497 (CURRENT)
Probable tgts for C = 5468,5404 (if downtrend continues)
Bullish Bat Pattern:
XA = 5197 – 5740
B = 5497
C= 5702
Probable D = 5508, 5441,5370
If D of the bullish pattern gets supported at the 5508 -50 DMA levels, and moves past 5702, then the C of the Bearish pattern would be fixed at the current levels of 5497. When the D moves below 5497, then the lowest would be the C for the Bearish pattern.
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