A potential reversal may happen if the neckline/50 EMA/trend line (orange) is broken. The neckline is in an odd spot though, at the bottom of a Monthly Resistance area (pink zone) as well as headed toward a pretty respected Daily Resistance (white line), as it has 6 major rejections since May. I'm rather new and still learning to trade, so if you've got any tips or common knowledge you'd like to share, I'd love some incite!
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The final shoulder has clearly failed to form. As partially expected, it bounced right off the down trend line (orange) but is currently fighting with the a weekly support area. (purple zone) False reversal?