Bear hope - double top reversal, confirmed 2930 now resistance

12 may 2020

Small win for the bears, however disclaimer: this is from an intraday 15 minute chart so take with a grain of salt. We had a double top reversal and it broke through the floor right at close, went down, came back up and tested and was rejected. 2930 - this important 61.8% retracement level - is now resistance. Next line to break is at 2894, which is the bottom diagonal channel trendline that we have created since March 23rd lows. If we can break that, maybe we can start to see some real movement to the downside. Breaking 2869 is paramount .... let's take the small wins for now.

12 may 2020

Nota

Edit: the diagonal channel has only been in play since May 3rd. Apologies for that.