Two head and shoulders top formations are seen here with the second formation not yet confirmed with a breakout. Todays price action suggests the more bearish H&S formation with min $2.60 target is the correct call with a rising wedge seen during today’s rally to for a right shoulder.
Should this call come to fruition, it would be a great opportunity to switch short positions to longs for what should be the beginning of the next leg in a secular bull market.
Should this call come to fruition, it would be a great opportunity to switch short positions to longs for what should be the beginning of the next leg in a secular bull market.