Price has not broken the neckline. The neckline is strong support until broken.
This is not a textbook H&S pattern but there is a peak/shoulder then a higher peak/Head then a lower peak/the 2nd shoulder.
Targets in orange type applicable if the neckline is broken. Sometimes all targets are not reached so keep an eye out.
Shoulder 2 is lower than shoulder 1.
Targets calculated using the measure of the head to the neckline then projected down from the neckline.
Spinning top on the gap down representing indecision. This candle can change by close.
W pattern and the 4th leg terminated at the 1.414 fib level.
There is some buying noted today.
There was also a RSI Divergence that accompanied the bearish rising wedge. I did not draw it as this has most likely corrected.
No recommendation/Short if price breaks neckline.
This is not a textbook H&S pattern but there is a peak/shoulder then a higher peak/Head then a lower peak/the 2nd shoulder.
Targets in orange type applicable if the neckline is broken. Sometimes all targets are not reached so keep an eye out.
Shoulder 2 is lower than shoulder 1.
Targets calculated using the measure of the head to the neckline then projected down from the neckline.
Spinning top on the gap down representing indecision. This candle can change by close.
W pattern and the 4th leg terminated at the 1.414 fib level.
There is some buying noted today.
There was also a RSI Divergence that accompanied the bearish rising wedge. I did not draw it as this has most likely corrected.
No recommendation/Short if price breaks neckline.