12-May

Double Top Anyone? – by Stephen M

Double Top anyone?

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.

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