It really looks like the price is drawing a Head and Shoulders. A break from the latest patter (Rising Wedge) would give this theory more power, while a weekly close above 42.00 would minimize the chances for it to be accomplished.
Comments
vaicru
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Next week I short Coca cola !
vaicru
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Now has to be short !
Razvan
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A short has a good probability!
Razvan
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The price is near the trend line, continuing with the down move and confirm the H&S or will it draw a triangle?
QuantitativeExhaustion
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never liked ascending necklines with H&S tops
Razvan
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They are not my favorite either, but they still work. Especially on these big time frames. Why do you prefer the descending necklines?