I know a lot of bullish investors want to call this a bull flag. But a quality bull flag has tight price action, or at least PA that doesn't meander. The tight descending price channel seems like a good place for price to return over the next few days. It's the only region where PA has been consistent (tight) in the past week or so. Anything above this channel seems like a strong short opportunity; anything below a countertrend buy. Still overall short, in light of increasing market volatility and other measures indicating this market is overbought.
Commentaire:
Broke below handle this AM. C&H formation is toast. Looking at lower-lows/lower-highs from here.