ptumelo365

ptumelo365

False break or restest?

ptumelo365

Will the bounce off the uptrend line hold for long or is it going to be short-lived and we break lower? The volume is relatively low, I believe more in the latter scenario in which case a retest should be sold.

ptumelo365

if it plays out it could give room for more downward momentum

ptumelo365

A break below the Golden Fib 61.8 could bring the head and shoulders formation into play. The default targets of the pattern would get us trading right above the ascending wedge breakout