I can see what resembles an inverted Head and Shoulders pattern right at the recent top. Even more interesting is that the right shoulder, which is a bit higher than the right shoulder although both bottomed at around the same price, has been made as an 18-day channel as of this publication. The channel composing the right shoulder isn't completed yet and I do see the possibility of the price revisiting the 1518 price level but this doesn't make a difference as it would pretty much still fall within the channel and also 1518 is the exact bottom of the left should which would add symmetry to the pattern, considering the slanted neckline due to the disparity on the shoulders height.
To disclose I am bought this asset but I would seriously consider adding to the position on the break of the channel.
To disclose I am bought this asset but I would seriously consider adding to the position on the break of the channel.
