Head & Shoulders nearing completion? - Target 10,400, then 14K
Below is a link to my previous analysis identifying the head and shoulders pattern with the neckline at 10,400.
It looks like we may have the shortened low of the right shoulder behind us. A lot of pressure from the bulls to get back to the neckline at 10,400. There are several stops ahead before we get there with 9800 and 10000 being the 2 big ones. But it's a positive note for the bulls, that the large red trendline that started from the ATH in December 2017 has held as support, limiting the drop of the right shoulder.
I expect to see upward trend over the next few days as we get to the neckline, and then we will see who wins that battle!
It looks like we may have the shortened low of the right shoulder behind us. A lot of pressure from the bulls to get back to the neckline at 10,400. There are several stops ahead before we get there with 9800 and 10000 being the 2 big ones. But it's a positive note for the bulls, that the large red trendline that started from the ATH in December 2017 has held as support, limiting the drop of the right shoulder.
I expect to see upward trend over the next few days as we get to the neckline, and then we will see who wins that battle!
Comment:
Close up of the right shoulder.
Comment:
