Ever Since the beginning of the sight of the Double Top Reversal Pattern on the Weekly Timeframe, Price for EJ has been slowly forming what looks to be a Bearish Channel!
Now over the weekend of Jan. 19th - 21st, Price crested inside the Channel and made a strong decline signaling the Buying Power has waned allowing Bearish pressure to come in and take over!!
Now if my Bearish Bias turns out correct, we will be looking at a potential Trend Continuation pattern called a Bear Flag!!
The caution area price must battle with will be the price range 158.580 - 157.950 acting as support currently but could potentially become RESISTANCE IF BROKEN!
*For Prediction to be correct we must first see a VALID BEARISH BREAK of this pattern with a VALID RETEST!