I think the Elliott wave boys would call this a "Bearish crab". I'm calling it a rising wedge.
If resistance holds true and we reject Monday we should see a pullback to 447-448. If support holds we could rally back up to 453 one last time before falling... As you can see the volume is drying at this point which means the big money is watching this wedge and they find more risk then reward.
Once we fall out of the wedge the bearish target is 428 .
This is a 4hr chart so this pattern could kick off Monday or Tuesday..
If resistance holds true and we reject Monday we should see a pullback to 447-448. If support holds we could rally back up to 453 one last time before falling... As you can see the volume is drying at this point which means the big money is watching this wedge and they find more risk then reward.
Once we fall out of the wedge the bearish target is 428 .
This is a 4hr chart so this pattern could kick off Monday or Tuesday..
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