Just does not look good to meright now..what do you think?
May be a Barr top pattern also known as a Bump and Run (the run is down) which consists of a "lead in" uptrend that is a normal or healthy uptrend, then a parabolic move up after the lead in phase is over. If in fact it is a BARR top, a dreadful pull back can ensue. Or it may just have arc-ed..either way..be safe The tall upper wick on weekly and monthly is alarming to me..this is a weekly chart.
I only noticed this today because large players were buying this today as noted on Chartmill. I looked at it and do not understand why?? Looks like it will pull back a bit more to me
Perhaps a case of too much too fast, but does appear this one may do some more pulling back
The Bump phase would need to be at least twice the height of the "lead in" phase to be a bump and run top.. also called a BARR top
Just an observation..I have the feeling this one may eventually be interesting once it finishes getting "bumped" (o:
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Comment: Fear is considered a stronger emotion by many and is felt with more intensity than Greed, therefore, markets tend to go down faster than they go up