As you can see,H&S has been formed on the daily with the right shoulder forming into a nice descending triangle.The bear volume rising consistently supports the analysis.Hedge your positions if long.
If the pattern completes, target of 240 is on the boards.Buy above 198 for clean breakout.
Note - Completed the head with huge sell volume and the bounce to start forming the right shoulder is weak with low volume. Some of the key points of a H&S pattern.
It will test 900(major resistance) if it breaks the 800 level.
Good probability of it going till 27500.Lets see if the pattern completes.
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