Prices are not very far from completing its Right Shoulder and the entire formation.
Measuring from the Head to Neckline, it has a price target of approx $12.79 downwards from the neckline.
The 2 possibilities will negate this formation:
(1) A non-break of the neckline and leading to upside reversal or other complex consolidation.
(2) A break above the Head level at $26.65
I don't rule out a short term consolidation before prices make a final upside thrust to complete forming the Right Shoulder.
I'm watching for more downside momentum and volume before concluding that prices have indeed rolled over.
Spike volumes have shown signs of decreasing amid increasing average volume.
More updates to come as prices reach the level of its left shoulder.
As long as prices do not break above the Head at $26.61, the potential head and shoulder pattern will remain valid.
We shall wait and see the possibilities that would arise in the coming days ahead.
Prices should continue down from here.
Any break of the Head will void this Head and Shoulders.