BLOOBERRY
Short

Double Top Pattern Expressed in $HMY

NYSE:HMY   HARMONY GOLD MNG LTD
90 0 4
Previous expectation of trend reversal did not come as soon as initially expected. This time, a pattern of double top with a potential shoulder is prevalent in the charts. There is also a possibility of another reversal to trace another right shoulder before entering a downtrend. Same expectations as the previous idea, except this time the SHORT position is extended longer into the month of May around the 17th. $HMY must break below the support target of $3.40 in order to enter the position .

The slope of the short position projection can vary in a wide variety anywhere along the blue dashed arrowed blue line. As like before, the target BTC is still $2.00.
Trade active: Short: $3.37 making progress on blue projection.
Comment: First close out target is at $2.50
Eyes on. Fingers on the the ripcord as we parachute down.
Comment: Getting choppy. Expect choppiness for next few weeks to months. FED interest hike speculation all around. An interest rate hike could promote a sell off in Gold, but if it stalls another quarter it gets closer and closer to elections. We shall see.
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