Using trend lines to connect variable pivot highs and lows shows price contained between the upper line of resistance and lower line of support. This is price range or sideways trend. This horizontal channel or sideways trend is also a rectangle pattern (dotted lines show the pattern). Buying and selling pressure is equal and the prevailing direction of price sideways. This happens in periods of price consolidation.
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|02:01||Rightmove House Prices||Dec|
|08:00||Machine Tool Orders||Nov|
|17:00||JOLTs Job Openings||Oct|
|20:01||10-y Bond Auction||Dec|
|02:30||Mid-Year Economic and Fiscal Outlook|
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|02:30||NAB Business Confidence||Nov|