This uptrend within the larger downtrend happened before in April
. Judging from the history, this uptrend will not exceed the levels of the previous uptrend to confirm, and head back down to eventually complete the double top
pattern. However, be aware the double top
pattern wannabe, can fail 65% of the time to reach the neckline or valley point (big red line) , and simply head back up or meander sideways. But this downtrend is so similar the the previous from the first top, have to believe in it, at least the the trend line
support, which, if the double top
pattern fails, would be the new long term support or resistance line.