The 156ish area has been providing support since January 2022; and it looks like we heading back there again.
But I will be cautious in buying that support this time for the simple reason that price failed to reclaim the previous YTD highs, and is forming a bearish Head & Shoulder pattern in the process. Should we lose that 156 neckline support, it may get ugly.
But I will be cautious in buying that support this time for the simple reason that price failed to reclaim the previous YTD highs, and is forming a bearish Head & Shoulder pattern in the process. Should we lose that 156 neckline support, it may get ugly.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.