Heading towards an Inverted cup and handle pattern. It can be identified by its large crescent shape followed by a less extreme, upward retracement9To be formed) . The entire pattern usually takes within 3 to 6 month to develop. These patterns are meant to serve as being indicative of a bearish reversal.
After the cup forms and the beginning of a noticeable handle takes shape, begin to monitor trading volume closely. You might observe a steady, daily drop in volume that could potentially indicate the end of the handle’s formation is near.
Disclaimer : The opinions and analysis expressed herein are for informational and educational purposes only and should not be considered as individual investment advise or recommendations. I am not your financial advisor. Risk it for Biscuit.