Where is the market headed and what is the potential degree of the move? Here are the characteristics that need to further materialize to confirm a double top:
- The subsequent decline from the second peak should witness an expansion in volume with acceleration of the descent.
- Completion and confirmation occurs when prices break through support which is the lowest point between the peaks. This also shows an increase in volume.
- The potential price target is determined by the distance from the support break to the peak.
This would complete at approximately 402.