red horizontal represents a head and shoulder neckline and the descending dotted red trendline leads to the breakdown target should that pattern be validated. The ascending dotted green trendline is a line that leads to the measured move breakout target if we validated the wedge pattern. The dotted tan trendline is the breakout target if that wedge is more valid as a bull pennant than just a wedge alone. The smaller horizontal yellow line represents the neckline of a smaller inverse h&s pattern and the smaller horizontal green lines are both a channel and a double bottom pattern. *not financial advice*
Kommentera:
A reset of the recently formed weekly 200ma (in blue) as support before the upside is continued wouldn’t surprise me.
Kommentera:
And just like that we have a nice bounce up from the 200ma after a retest and price is back above the double bottom neckline.
Kommentera:
Very close to first bull target here.