Bear Flag & a Head and Shoulders for GBR?
Since my previous post on GBR, we've clearly seen the price breakdown from what appeared like a bullish pennant or potentially a bull flag, but the bearish divergence was/is too strong...
Currently, it appears as though the price is breaking down from a bear flag with a head and shoulders pattern noticeable. I have placed a blue human head and body icon to represent the head of the H&S pattern.
It could be an ascending triangle with a fake-out to the downside occurring now, the higher low trajectory has been negated at the upward sloping support of the pattern, in the next several trading sessions it will be more apparent.
The RSI is trading in a descending triangle creating a series of lower highs.
The DMI is showing a bearish cross where I've placed the red finger point downward.
Currently, it appears as though the price is breaking down from a bear flag with a head and shoulders pattern noticeable. I have placed a blue human head and body icon to represent the head of the H&S pattern.
It could be an ascending triangle with a fake-out to the downside occurring now, the higher low trajectory has been negated at the upward sloping support of the pattern, in the next several trading sessions it will be more apparent.
The RSI is trading in a descending triangle creating a series of lower highs.
The DMI is showing a bearish cross where I've placed the red finger point downward.
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