What I see... + Head and Shoulder pattern started forming as early as Dec + Found Support back in mid-March + Tested $100 neckline and pulled back to the .786 Fib + Last week, prices retested the neckline and consolidated in a side way move painting 2 NR7 bars + MACD is flat but in positive territory + RSI is at 64 after bouncing off of 50
- Prices pulled away from 10MA - 50MA is still under the 200MA
What I setup... + Long above neckline - Stop under last week's channel low + Target is 618 Fib
Its also double top. These day we dont really have free market so TA cant really apply. Most big traders sitting in their cash and most investors also after Warran Buffer said he doesnt see anything attractive. Price is higher but volume is lower is a sign