🚨 RRSR Bearish Head and Shoulders Pattern Confirmed 🚨
RRSR has formed a bearish head and shoulders pattern and has already broken below the purple neckline. This indicates a potential for further downside movement. However, if the price breaks out above the red resistance zone (the right shoulder), the bearish structure could change and become bullish.
📈 Technical Overview:
Pattern: Bearish Head and Shoulders
Neckline: Purple level, already broken.
🔻 Potential Downside: Further downside movement possible.
Bullish Invalidation: If the price breaks out above the red resistance zone (right shoulder), the bearish pattern may be invalidated, and the trend could turn bullish.
Keep an eye on the price action for further developments and confirmation of either continued bearish movement or a bullish reversal.
RRSR has formed a bearish head and shoulders pattern and has already broken below the purple neckline. This indicates a potential for further downside movement. However, if the price breaks out above the red resistance zone (the right shoulder), the bearish structure could change and become bullish.
📈 Technical Overview:
Pattern: Bearish Head and Shoulders
Neckline: Purple level, already broken.
🔻 Potential Downside: Further downside movement possible.
Bullish Invalidation: If the price breaks out above the red resistance zone (right shoulder), the bearish pattern may be invalidated, and the trend could turn bullish.
Keep an eye on the price action for further developments and confirmation of either continued bearish movement or a bullish reversal.
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.
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.