I don't like it and I don't want to believe it, but it's there and in this market, anything can happen.
The most recent price action forms a bear pennant that is also a rising wedge, double bearish.
If this breaks to the downside the target breaks the first MAJOR long term trendline, shown in yellow dots, for the first time ever. It also breaks the neckline of a super ugly head and shoulders pattern with a very low neckline target that lines up with where is the first next possible longer term trendline (also in yellow dots).
Some really shitty news could be the tinder that sparks the selloff. The chart is already set up for it.
Sorry, don't hate me. Just be careful is all I'm saying
The most recent price action forms a bear pennant that is also a rising wedge, double bearish.
If this breaks to the downside the target breaks the first MAJOR long term trendline, shown in yellow dots, for the first time ever. It also breaks the neckline of a super ugly head and shoulders pattern with a very low neckline target that lines up with where is the first next possible longer term trendline (also in yellow dots).
Some really shitty news could be the tinder that sparks the selloff. The chart is already set up for it.
Sorry, don't hate me. Just be careful is all I'm saying
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You were warned ;)
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continued carnage!! second long term trendline looking like it could be reached at this rate...