RY (RBC BANK) | Watch For Rejection and New Downtrend
Updated
RY has filled a gap created back at the beginning of 2018 and we also see a potential large double top formation on the daily and weekly timeframes that is being formed by rejection. This is an opportunity to position short for a new downtrend on the lower timeframes, looking for support on the 8/1 Gann and as low as the 4/1 Gann.
On the larger timeframe, don't forget Steve's trade (targets are my own though):
PS. Some Index funds might be worth shorting as well.
On the larger timeframe, don't forget Steve's trade (targets are my own though):
PS. Some Index funds might be worth shorting as well.
Note
Hugging the trendline!Note
Note
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