Bears in control with a 1D downtrend. If we see healthy consolidation and can hold a HL above 269 lows, potential for a 1D inverse H&S pattern. Otherwise, bears keep their control and can see new lows. Most important level is 286.83 the FOMC reaction high --- bulls are likely to start a bigger 1W bounce IF AND ONLY IF they break this level.
LUV is clearly tightening on the daily timeframe with a series of lower highs and higher lows, forming an equilibrium pattern, triangle, whatever you want to call it. The point is that the break is imminent and it’s direction will likely be dictated by the stock price’s reaction to earnings next week.
The most important levels right now are 29.73 support (and...
Clear tightening pattern on UBQ/BTC's weekly chart. Break is likely after a few more weekly candlesticks. Technically broke bearish this week but with rounding I would call it a double bottom. Also, there has been no follow through on the break. The daily chart is bouncing from oversold conditions as well. Could be a bear flag or an opportunity for a bounce after...
