A measured move breakdown from this pattern could bring price back to previous resistance/support at around $68. If it breaks out to the upside a measured move would bring it to a price around $120. Based on how I drew the right-side trendline, price seems to have broken down and retraced on weak momentum, where a breakdown looks possible. I suppose you can re-draw this trendline to include the most recent price data, in which case we're still waiting on a break.

No comments:
Post a Comment