Bel

#bel BEL

A double bottom pattern is a classical technical analysis showing a major change in trend from a prior down move.
The double bottom pattern looks like the letter "W." The twice-touched low is considered a support level.
The double bottom pattern always follows a major or minor downtrend in a particular security, and signals the reversal and the beginning of a potential uptrend.
Double bottom patterns occur relatively often and in many different timeframes.
A daily double bottom may indicate a longer-term reversal or shift in trend, while an hourly double bottom may signal only a brief pause in a down trend.