Indeed it is a big resistence but
As in the post 576 written on 28 April "Right now we see that market dropping to next support area is 5/8 level of 7.770K This is should become a right arm of our H&S pattern"
This scenario is valid and gradually come to crucial point as price stands right at the bottom of right arm of H&S pattern. IT means that this pattern will starts to work to push the price up to 11.250K at least.
Only breaking 7.614K - 7.770K area will mean that H&S pattern will fail to lead the price to new decline below 6.519K lows.
You are viewing a single comment's thread from: