Cake daily analysis

Cake daily analysis

After a bullish rally, a consolidation is predictable. The chart has corrected about 30% of its previous uptrend, moreover, taking the fibonacci retracement in to consideration , the contemporary position of the chart is on 0.618 fibo level. The whole form of the chart is a resemblance to triangle chart pattern. If the chart breaks the top or bottom of the triangle, our goal is the length of the side from the breaking point.