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A bull flag is a chart pattern used by technical traders to signal when the market is likely to rally further. This pattern usually appears when prices undergo a short-term corrective phase within a broader uptrend, indicating that the asset is likely to experience a further rise in price. The pattern unfolds in specific phases, starting with a significant upward surge caused by a strong influx of buying pressure. This initial movement can be a reaction to positive sentiment, fundamental news, or market dynamics that favour an increase in the asset’s value.