We have a Double Top pattern formation at a monthly resistance level but I think that price will rally again for the third time since RSI is indicating that price is nearing oversold levels and a Harmonic pattern is about to complete.
Price may form a Triple Top before a downward move. Regardless if it does or does not form one, we will enter short trades upon break out of the Double Top neckline (and after any retest of broken support lines, of course).
See comments below for price activity and short opportunities in a shorter time frame.
Price may form a Triple Top before a downward move. Regardless if it does or does not form one, we will enter short trades upon break out of the Double Top neckline (and after any retest of broken support lines, of course).
See comments below for price activity and short opportunities in a shorter time frame.
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