Head and Shoulders?
I know everyone seems to be talking about the rally gaining momentum, however from what i can see is a H&S forming clearly on the 1 hour chart. Also the RSI on 9 September barely moved and turned down slightly to close the day. Also (not shown on this chart), but the fib retracement from the August top has reached 38.2%, which is could possibly be wave 4 completion and start of wave 5. Also the daily volume for the last two trading sessions has dropped and remained stagnant. if we have a gap up on lower volume than when we were trending lower, how can we be sure the momentum has picked up enough to go to higher levels?
*Not financial advice or recommendation to buy or sell anything.
*Not financial advice or recommendation to buy or sell anything.
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