Possible Reverse Head and Shoulders pattern signifying a Reversal of the previous recent downtrend.
There is a zone of uncertainty between the H&S neckline, the 50 SMA and the larger timeframe trendline. The market usually wants to test these levels
The MACD indicator is showing a return of positive Momentum.
The conventional projection for the Take-Profit target is the distance between the neckline and the lowest/highest pivot (The Head)
There is a zone of uncertainty between the H&S neckline, the 50 SMA and the larger timeframe trendline. The market usually wants to test these levels
The MACD indicator is showing a return of positive Momentum.
The conventional projection for the Take-Profit target is the distance between the neckline and the lowest/highest pivot (The Head)
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