$SB H&S break with more downside
Some strong support but still potential downside to complete the pattern.
Trade active
H&S neckline breakdown confirmed and macro correction pushed 
SB past significant resistance at 3.80-4.00 to continue downtrend.
Next resistance at 3.4 followed by final chance of a bounce at 3.15 area to complete measured move.
Note
Big bounce at 3.4 today and reclaimed 3.5-3.6 support zone.
Volume on decline is not convincing. H&S breakdown likely invalidated.
Trade closed: target reached
SB continues to chop b/t our two support zones. Consolidation shows lower highs and lower lows which may indicate bearish momentum.
Original H&S price target is invalid.
Note
Lost $3.40 support today with next major support at $3.14
just practicing & learning
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just practicing & learning
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.