I really can't decide if i should call it a giant falling wedge or a giant rectangle top. Either way its a bearish chart. Indicators are all bearish. Overall trend is neutral on the monthly chart, but bearish on the lower time frame charts. I encourage you to scroll down the lower time frame charts. They all look bearish...right down to the 15 minute chart. Ill probably start entering this trade over the next month with a put time spread.
Random note.... I wish I could find more bullish patterns to balance out all the bearish patterns I have recently found. This is not good sign for the wider market going forward. That being said, I am hopeful for at least a short term opportunity to go long in the near team, even if that long is for a fleeting.
Random note.... I wish I could find more bullish patterns to balance out all the bearish patterns I have recently found. This is not good sign for the wider market going forward. That being said, I am hopeful for at least a short term opportunity to go long in the near team, even if that long is for a fleeting.