First had a downtrending channel, recently price broke out of this channel, but finds it hard to break clearly.
Matching up a zone of resistance and an area that looks like a double shoulder head and shoulder pattern, price is more likely to go down and test the lows for a potential bottom in the market.
Conclusion: View is neutral until it either breaks the 630 or 490 barrier. Shorter term views, a more negative outlook, maybe price will retest at 630 and then drop off.
Matching up a zone of resistance and an area that looks like a double shoulder head and shoulder pattern, price is more likely to go down and test the lows for a potential bottom in the market.
Conclusion: View is neutral until it either breaks the 630 or 490 barrier. Shorter term views, a more negative outlook, maybe price will retest at 630 and then drop off.
