after bouncing off support at 60 and breaking above downtrend resistance as shown by the arrow in the chart, an interesting development it seems to be developing in the form of inverse H&Ss. Time will tell.
Comment:
First leg of the setup took a lil longer but nevertheless seems to be on its way. Very volatile as market conditions remain unstable because of the US-China trade war and US-Iran dispute
Comment:
PAttern been broader than what the arrows indicated but nevertheless still displaying the same outcome. A right shoulder seem to be developing now so if it holds then price should be on its way above 66.
Order cancelled:
As you can see, support around the 62 area didn’t hold for a completion of the IH&S pattern expectation which ended up invalidating it.