I can see a possible inverse H&S patter forming on the 4 hourly. RSI shows some room to move, Good volume that we haven't had for a month. i'm not convinced yet but a break of the neck at ~9200 could indicate further signs of recovery,.
I think a lot of bulls are still waiting for a double bottom with lower low and higher high. i mainly want to publish this so i can come back and check the patters later.
i'm a beginner, but been starring at these charts for 3 months now and i like to read all ideas. this is not trading advise. just what I see.
I think a lot of bulls are still waiting for a double bottom with lower low and higher high. i mainly want to publish this so i can come back and check the patters later.
i'm a beginner, but been starring at these charts for 3 months now and i like to read all ideas. this is not trading advise. just what I see.
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A break of 9200 would also break a major bearish trend line giving signal for a lot of bulls.
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H&S pattern failed to form, expect a double bottom... hopefully a good bounce on the 200 day SMA or further declines may follow
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Having another look it is possible the right shoulder and neck line are descending. the pattern has formed. the dropping shoulder this is consistent with dropping volume. i also have marked a acceding triangle. so watching for a breakout on both up or down.