A.) Prices have been consolidating in a triangle pattern
B.) Prices have broken out of that pattern and
C.) Momentum is moving higher. Also note that momentum just crossed the 0 line -- another bullish move.
A and B.) Are the upward sloping trend lines
C, D, and E.) These are consolidation areas. Notice that prices are moving lower and consolidating gains in an organized manner. There is no panic selling.
1, 2, and 3.) Prices have moved higher. 1 and 3 are higher moves that gapped higher instead of gently rising.
Overall, notice the chart is in a pattern of higher highs and higher lows. Simply put, this is a nice looking chart that is very bullish.
