Major line of resistance before a bull cycle will begin
The following is a major line of resistance that needs to break first and then tested as a support before the next bull cycle can begin. The actual inverse H&S will take the price action to test it, and since a year ago has been proved as a strong resistance line. And guess what? It coincides with the MA 200 on the 1D chart.
Trade fermée: ordre d’arrêt atteint:
Price action failed to reach the neckline, then no more inverse H&S pattern.