A = resistance
B = flush-high / false breakout / whatever you want to call it
C = formation of resistance a
The outlook has been bleak for some time. Pressure is mounting further with the development of a large H&S reversal pattern on the weekly chart. This pattern will be completed below the neck line at ~42.00. This pattern, in combination with the weak Banking sector and earlier 'flush-high', make SocGen a prime short-entry candidate on all time frames.
The first target comes in at 38.80. Below that the H&S pattern has a projection of roughly 33.30. On the upside, maintain stops above (max) 45.90.
Primary trend: negative
Outlook: negative, new primary down trend
Strategy: hold-short and/or short-entry
Support: 42.00 / 38.80* / 33.30*
Resistance: 45.90 / 52.20+
Outlook cancelled/neutralized above 45.90
B = flush-high / false breakout / whatever you want to call it
C = formation of resistance a
The outlook has been bleak for some time. Pressure is mounting further with the development of a large H&S reversal pattern on the weekly chart. This pattern will be completed below the neck line at ~42.00. This pattern, in combination with the weak Banking sector and earlier 'flush-high', make SocGen a prime short-entry candidate on all time frames.
The first target comes in at 38.80. Below that the H&S pattern has a projection of roughly 33.30. On the upside, maintain stops above (max) 45.90.
Primary trend: negative
Outlook: negative, new primary down trend
Strategy: hold-short and/or short-entry
Support: 42.00 / 38.80* / 33.30*
Resistance: 45.90 / 52.20+
Outlook cancelled/neutralized above 45.90
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.