A key Descending Triangle has formed on LYB. Analyze the breakout level now.
Bearish continuation pattern.
Technical analysis of LyondellBasell (LYB) reveals a significant setup. With a last close of $70.19, volatility remains active (-1.56%). Algorithmically, a Descending Triangle structure has completed. Volume is average (0.3x avg) with moderate trend strength (24.6). A potential breakout level is identified at $65.76, targeting $53.09 with support near $75.29 (R:R 1.33).
What is your outlook on LYB?