A bearish H&S pattern has emerged on the NL25 index against a strong resistance structure which I believe is the beginning of a market correction.
Note
You can clearly see a death cross with the 20EMA crossing paths with the 200EMA signifying a correction in the market. Strangely, this was also the first index to record this anomaly which lead to the correction in Jan 22'. investopedia.com/terms/d/deathcross.asp
Note
We've seen a test of the H&S base as resistance with the bearish continuation.Trade closed: target reached
As planned.
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Related publications
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.