An up to date look at the gyration in prices and exploring potential setups. Please take note this is not a recommendation or trading service.
- Should the price retrace, there is a potential inverse head and shoulder set up
- For the IHS to work, price must not breach below $850
- RSI is diverging and selling pressure may start to escalate if long bails out on the back of any risk off sentiment
- The smaller IHS has hit target – there is a potential set up for a much larger IHS.
- Uninterrupted uptrend line – April meeting is keeping the current rally but a breach below the uptrend line will certainly signal the end of the short covering rally