Weed has formed an almost complete head and shoulder pattern. It formed perfectly within the strong downward channel (green dotted lines). I expect we are going to see price falling at least towards 23.5 but most likely towards 21.4. If that last called scenario is confirmed a descending wedge is forming with the purple line and green dotted top line of the downward channel. IMO this could lead into an upwards breakout and a turn around into some bullish price movement.
I'm learning. Please let me know what you think of this analysis.
I'm learning. Please let me know what you think of this analysis.