Broken Trend Line & Possible Head and Shoulders
Price already broke below the trend line and currently is being rejected on the retest. We have a strong resistance at the top at the 95.50 level and another resistance at the 94.70 price level.
We have completed a left shoulder and the head already, and based on what I mentioned above, it looks as though we will be forming the right shoulder soon.
more confirmation is the fact that the 5 EMA (green) is below the 21 EMA (red), and still below, but testing the 144 Fibonacci level Simple Moving Average.
We have completed a left shoulder and the head already, and based on what I mentioned above, it looks as though we will be forming the right shoulder soon.
more confirmation is the fact that the 5 EMA (green) is below the 21 EMA (red), and still below, but testing the 144 Fibonacci level Simple Moving Average.
