DOW30 - Potential Head and Shoulder
Possible head and shoulder here. Hit neckline and ran into resistance. Expecting some ranging and a high between 27900-28200 followed by a rejection into the Abyss.
For pattern to break:
-need to get above 28000 very quickly and stay there.
- OR Could just blow through neckline
For pattern to break:
-need to get above 28000 very quickly and stay there.
- OR Could just blow through neckline
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DAMN. that overnight rebound was wild!
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Structure is slightly different than predicted, but pattern still in play. Rejected at ~28200 and currently bouncing around 27700-28000 where the left shoulder (if confirmed) spent a lot of time.
Need to make a higher high than 28200 and continue upward for pattern break.
Need to make a higher high than 28200 and continue upward for pattern break.
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Called 2nd shoulder too early, but we have been following original head and shoulder perfectly so far. Looking for a neckline break at around 27500
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Today could be the day!