Price Action: Ranging
Pattern: Rising wedge/head and shoulders
Long-Term Momentum: Bullish
Short-Term Momentum: Bearish
Bias: Short
Action: Price closed below trend support on the weekly chart but is rejecting off the support zone. Once price moves below the support zone it would be a good idea to take a short position.
Pattern: Rising wedge/head and shoulders
Long-Term Momentum: Bullish
Short-Term Momentum: Bearish
Bias: Short
Action: Price closed below trend support on the weekly chart but is rejecting off the support zone. Once price moves below the support zone it would be a good idea to take a short position.