A possible right shoulder of the H&S formation has formed in weekly chart since last analysis. It sits on 200MA on daily chart.
Question becomes whether it’s actually a H&S formation or an uprising rising channel.
I do not like that a neck like is on such steep angle, otherwise I would be convinced it’s H&S.
As mentioned before neck breakdown would signal around $90 price levels. In case of channel continuation we could eventually see huge run up.
Staying on the sidelines for now.
This is not financial, investing, or trading advise
Question becomes whether it’s actually a H&S formation or an uprising rising channel.
I do not like that a neck like is on such steep angle, otherwise I would be convinced it’s H&S.
As mentioned before neck breakdown would signal around $90 price levels. In case of channel continuation we could eventually see huge run up.
Staying on the sidelines for now.
This is not financial, investing, or trading advise
