Double Top forming @43 and change. If this level is not broken then it will do a reversal to 37, bouncing around 41 due to the gap that will serve as support.
It is gaining momentum, but it is still a negative momentum, which is forming a negative divergence (Higher Price, Lower Momentum). I am not optimistic about breaking this historic Resistance. At least not now. If the double top is not broken to the upside I am bearish until it hits 38, then wait for a change in the direction of the leg around mid November and wait for the Santa Claus Rally
It is gaining momentum, but it is still a negative momentum, which is forming a negative divergence (Higher Price, Lower Momentum). I am not optimistic about breaking this historic Resistance. At least not now. If the double top is not broken to the upside I am bearish until it hits 38, then wait for a change in the direction of the leg around mid November and wait for the Santa Claus Rally
