lukelehepuu

IS BHI GOING TO LOSE MOMENTUM?

NYSE:BHI   BAKER HUGHES INC
26 0 3
Looking at the lows from January 2016 to present day you can see that price has been pushing higher and higher (purple curve). This purple curve cannot keep getting steeper forever and so, will likely have a pull back soon. If you look at point 1 on the chart you will also see that a double top could be forming here, which also lines up with previous support and resistance before 2016.

The orange arrows indicate how I think price action might unfold for the coming months. If this keeps rallying it will be an even better opportunity to short.
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