Inverse Head and Shoulders measured move
I'm expecting a bounce off the neckline of the inverse head and shoulders.
The daily chart looks more bullish, for the short-medium term.
The measured move off this bounce would end up at ~65 which lines up with the 100 EMA on the daily chart.
Weekly chart looks bearish though, so I think this move would take about 2 weeks, and then continue declining, eventually testing the bottom macro trendline and potentially breaking down.
All my opinion. Good luck.
The daily chart looks more bullish, for the short-medium term.
The measured move off this bounce would end up at ~65 which lines up with the 100 EMA on the daily chart.
Weekly chart looks bearish though, so I think this move would take about 2 weeks, and then continue declining, eventually testing the bottom macro trendline and potentially breaking down.
All my opinion. Good luck.
Comment:
Invalidated.