The 2021 high had not been reached again. Since then we've got a double top which may become an inverse Head and Shoulder. As long as the January 2022 high will not be taken out the probability is in favour of lower indications.
The March 2022 high together with the November 2022 high can be seen as a smaller S-H-S formation. But as the market could not reach the neck line of the bigger S-H-S again this may be seen as a lack of confidence in the break of the smaller formation.
Insofar the sideward range since February looks like a bearish consolidation which has been broken with the fall of the past week.
The March 2022 high together with the November 2022 high can be seen as a smaller S-H-S formation. But as the market could not reach the neck line of the bigger S-H-S again this may be seen as a lack of confidence in the break of the smaller formation.
Insofar the sideward range since February looks like a bearish consolidation which has been broken with the fall of the past week.
Trade closed: stop reached