SBI’s 3-month chart is showing a potential Double Top following a strong upward trend.
The first peak was followed by a pullback. Price then rallied toward the previous resistance zone, forming a second, slightly lower peak and showing rejection near that area.
The reaction low between these two peaks forms the neckline, marked on the chart. This support is the key level to watch as price tests the potential breakdown.
A completed 3-month candle closing below the neckline would confirm the pattern under a candle-close confirmation approach. Until then, the breakdown remains provisional.
If confirmed, the next development to watch would be downside follow-through, or a bounce back toward the neckline. Rejection on that retest would support the bearish interpretation; a sustained recovery above the neckline would weaken it.
This chart study explains the pattern and its confirmation conditions for educational purposes.
The first peak was followed by a pullback. Price then rallied toward the previous resistance zone, forming a second, slightly lower peak and showing rejection near that area.
The reaction low between these two peaks forms the neckline, marked on the chart. This support is the key level to watch as price tests the potential breakdown.
A completed 3-month candle closing below the neckline would confirm the pattern under a candle-close confirmation approach. Until then, the breakdown remains provisional.
If confirmed, the next development to watch would be downside follow-through, or a bounce back toward the neckline. Rejection on that retest would support the bearish interpretation; a sustained recovery above the neckline would weaken it.
This chart study explains the pattern and its confirmation conditions for educational purposes.
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Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.