Technical analysis: Reverse head and shoulders pattern
– In the previous analysis, it was mentioned that a head and shoulders pattern was formed, that the last correction log can extend to the range of 1.17.
– As mentioned, it is moving in a descending channel.
– Demand was met at the bottom of the descending channel and the range, which experienced a growth up to the top of the channel and the broken zone.
– Currently, in weekly and daily time, in addition to the descending channel, it is in a concentration.
– In addition, it is suspected that the head and shoulder pattern is the opposite. Therefore, I expect it to advance to the supply zone after the last bearish leg and the right shoulder are completed, out of congestion.
Note: It is necessary to explain that the right shoulder should not be extended to the previous area, in which case the alternative scenario should be checked and the post updated.
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