After a brief rally, the counter signals of topping out.
It made a head and shoulder pattern and broke the neckline.
The right shoulder can be attributed to a flag pattern as well.
And a bearish trendline can be drawn connecting the lower highs of the price action.
The stochastic indicator is also entering the overbought zone.
Multiple factors converge to divulge one thing -- the pair is set to break loose and head down.
It made a head and shoulder pattern and broke the neckline.
The right shoulder can be attributed to a flag pattern as well.
And a bearish trendline can be drawn connecting the lower highs of the price action.
The stochastic indicator is also entering the overbought zone.
Multiple factors converge to divulge one thing -- the pair is set to break loose and head down.