The first break of a range type formation is almost always a failure. This can be amplified even more if that fake-break goes against the larger trend which, in this case, it does. Buyers have a LOT of reasons to look for continuation up and a higher low would be a great ticket to the show.
Beyond Technical AnalysisChart PatternsfakebreakGLDTrend AnalysiswedgebreakoutWedge

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