The breach of rising trend line followed by a falling tops formation suggests a potential for a drop to head and shoulder neckline level of $51.00 levels.
A break below the same cannot be ruled out, although the losses are likely to be restricted around $50.60 (50-DMA) levels.
All three major averages – 50, 100 & 200 – are perfectly aligned and are sloping higher, thus suggesting the long-run outlook remains bullish.
Breech of your neckline would suggest sub $47 which would coincide with your longest MA.
I also use DMA and my pattern triggered x 2 days ago (AEDT).
I am looking for mid $48, before resumption
... just my 2c worth
I also use DMA and my pattern triggered x 2 days ago (AEDT).
I am looking for mid $48, before resumption
... just my 2c worth