A H&S pattern may be in the making for this index.
Momentum is waning with the current impulsive uptrend, and price looks to correct towards the longer time frame MA's.
A short trade can be considered , as charted , considering a stopped out position just above a potential right shoulder.
The targets could be the monthly S1 and S2 pivots, the latter providing a RR over 7......
Momentum is waning with the current impulsive uptrend, and price looks to correct towards the longer time frame MA's.
A short trade can be considered , as charted , considering a stopped out position just above a potential right shoulder.
The targets could be the monthly S1 and S2 pivots, the latter providing a RR over 7......