30/06/2025
π BF Utilities Ltd β Ascending Triangle Tightening for Breakout ππ (15-Min Chart)
BF Utilities is forming a textbook ascending triangle, a classic bullish continuation pattern. With higher lows pressing against a flat resistance zone near βΉ790, the price is compressing into a potential breakout point β signaling that momentum is quietly building underneath.
π Technical Highlights:
πΌ Rising trendline support holding firm β multiple higher lows show buyer confidence (pink arrows)
π§± Resistance near βΉ790 remains unbroken β acting as the upper boundary of the triangle
π‘ Volume spikes on trendline bounces (yellow circles) = accumulation in progress
π RSI near 51 = neutral to bullish zone, suggesting more room for upside
π― Breakout Watch Levels:
π Break above βΉ790ββΉ795 (with volume) = potential move toward βΉ820 / βΉ845
π‘οΈ SL (15m Close): Below βΉ773 trendline or previous swing low
β οΈ Volatility is tightening as the range narrows β typical pre-breakout behavior. If volume and price align above resistance, this could lead to a quick upside expansion.
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