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There is little we can do besides examine the structure, and look at some possibilities.
The big H&S is this, and we came close to testing the 200-day SMA:
We are due for a relief bounce (at least), but nothing stops us from going lower first. The most bearish thing that can happen is for us to retest the neckline from beneath, then collapse again and fall under the 200-day SMA.
Barring that, let’s look at what else is also possible.
I hope everyone has a fine evening, and I will see you in #the-lounge. 🙂
Parts of this article may be reserved for members. You may learn more about becoming a member on the Join page.
You are also warmly invited to join our growing community in the Discord server (there are many public features in there). The invite link is here: https://discord.gg/58FSjcDhvG.