Rectangle
This is not a perfect rectangle but rarely is anything perfect as of late.
There appears to be an M forming that has peak 2 higher than peak 1 which usually points to a Shark or a Cypher, but there is also the rectangle to think about as it has a resistance line and a support line.
Several touches (blue stars) to the support line and each touch increases the support at this level.
This looks like it will get close to the support line at least and a lot will depend on market sentiment.
No recommendation/.786 would mark a cypher/.886 and 1.113 would mark a shark.
Any pattern can fail.
There appears to be an M forming that has peak 2 higher than peak 1 which usually points to a Shark or a Cypher, but there is also the rectangle to think about as it has a resistance line and a support line.
Several touches (blue stars) to the support line and each touch increases the support at this level.
This looks like it will get close to the support line at least and a lot will depend on market sentiment.
No recommendation/.786 would mark a cypher/.886 and 1.113 would mark a shark.
Any pattern can fail.
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