$Intl Cement^(KUO.SI)  Some may view this chart as a triple bottom or double bottom or is set to break even lower.

My view is that the chart presents a triple bottom at the moment. The triple bottom chart pattern is a rare, but extremely effective reversal pattern. It&rsquo s rare since the successive creation of three equal lows doesn&rsquo t happen quite often. Therefore, the double bottom is a more frequent chart pattern as it requires one low less to happen.

On the other hand, its scarcity makes it a very strong and powerful pattern. The sellers are extremely exhausted after three consecutive attempts to break lower, which makes them exposed to a rally as buyers feel much more confident after defending strong horizontal support.

The triple bottom formation doesn&rsquo t have any apparent weaknesses. Actually, its biggest limitation is that it doesn' t occur quite often, otherwise it would be the strongest reversal pattern out there.

That said, watch out whether it can rebound from 0.054 decisively.



- Charles.