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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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.