Clear Head & Shoulders Pattern played out very similarly to the 2018 Bear Market.
The last time we saw this type of breakdown we can see the bottom wicks were very similar and did NOT suggest a bottom.
The First Support is at $1450.
The Second Support, if we see a World Wide Recession play out, is $460.
I know that the second target seems impossible but I promise you if a World Recession plays out, it will become realistic VERY fast.
For now, we just target First support.
Hope this helps, Good luck!
The last time we saw this type of breakdown we can see the bottom wicks were very similar and did NOT suggest a bottom.
The First Support is at $1450.
The Second Support, if we see a World Wide Recession play out, is $460.
I know that the second target seems impossible but I promise you if a World Recession plays out, it will become realistic VERY fast.
For now, we just target First support.
Hope this helps, Good luck!
Nota
Still very confident about this. Have to remember that this takes weeks and even months to play out so the general targets remain the same. Will look to update on possible local bottoms where the price will attempt to bounce. Ultimately, the trend is nowhere near changing Medium/Long term.
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.