Is S50Hs pullback over and done with?Friday closed as a dragonfly doji, just under ema40, nothing a smaller opening Monday gap, easily, could open over.
4 hours closed with an OWS pattern, after the previous candle had touched rising floor support, before returning to go north, thereby protecting it from the head and shoulders pattern being triggered (more one that if it would trigger,. later on).
If this doesn't help S50H to return to a bullish run and a breakout, from the looong sideways move, its been in since it broke out of the pennant flag pattern, in November of last year.
I am still bullish, at least in the short term, until it has broken out of, has a higher low and is above the secondary support of 953 and then I will grow longer horns on my head. Before that, will be well aware of the risk of a breakout to the downside, and the H&S target that will probably be in the 825-830 something.
