Rising Wedge and Ascending H&S, leading to a break down over a weak uptrend line
down to the .618 Fibonacci line
Rising wedges and H&S patterns are both considered bearish
Attaching my thoughts about the ascending H&S
MRK is approaching our first support at 66.70 (horizontal overlap support, 100% fibonacci extension, 50% fiboancci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 74.94 (50% fibonacci retracment, 61.8% fiboancci extension).
Stochastic (21,5,3) is also approaching support where we might see a...
