-Double head and shoulders -Inverse head and shoulders -Giant wedge formation
Complex hypothesis based on a contrarian approach:
Head and shoulders formation occurs when a market trend is in the process of reversal either from a bullish or bearish trend.
Whilst most will conclude the bears are in control we are in a large wedge formation with an upward trajectory which currently correlates to the inverse head and shoulders formation. Should this momentum continue along the the inverse head and shoulders path we are likely to break the upper resistance line of the wedge.
Should this take place, the BULLS will be in play again.