RE:RE:RE:RE:RE:Can Baytex reach $2.50 today?The BTE market has clearly generated a very bullish double bottom chart pattern.
"To create a double bottom pattern, price begins in a downtrend, stops, and then reverses trend. However, the reversal to the upside is short-term. Price breaks again to the downside only to stop again and reverse direction upwards. With the second bottom of the double bottom pattern, it is usually more bullish if the second low is higher than the first low."
"A potential buy signal is given when the confirmation line is penetrated to the upside. The confirmation line is drawn across the top of the double bottom pattern".
The BTE confirmation line appears to intersect at $2.70. If BTE breaks $2.70 we have a real winner into the summer and beyond. Combine the technical with the fundamentals turning for the underlying commodity and it's celebration time come on....