Alibaba $BABA is signaling a bullish outlook as it broke and closed above a consolidation pattern that looks like an ascending triangle.BABA Daily Chart(click to enlarge)Bullish Development:- Note that Alibaba was bearish in 2018, but price action flattened by the end of the year.- In 2019, we saw price spring up from a large consolidation pattern. You can also say it completed a double bottom when price broke above $170.- BABA then consolidated in what we now can say is an ascending triangle.- After more than 2 months of consolidation, price broke above the $187-$188 consolidation resistance. - The next key resistance and psychological level will be $200.