NG -- About to kiss neckline of Head & shoulder pattern

Aug 5, 2017

As we all know , NG is trading in H & S pattern from so many days. Now final shoulders downward moving wave is about to kiss the neckline of H & S. You can experience huge selling pressure in price movement. Since last 5 trading days , traders use each & every upward move to short. So price will surely touch neckline. We all should cautious, when price will prevail around neckline because H &S pattern has bad habit to come above neckline for little time and force the bears to cover the short. After that price gives real downward breakout. For example see yesterday silver H & S breakout. Price came up, above the neckline and after some hours again tumbled down heavily.