Loading ...Aussie Dollar – Right Shoulder Or Bear Flag ?
What do you think ? Inverse head and shoulders or bear flag ?
If it’s a bear flag, the PM’s are screwed and we’d be looking at sub $1000 gold and $10 silver. HUI would probably fall well below 100.
Edit – If this is an inverse head and shoulders pattern, the neckline is sloping from lower left to upper right.
Looks like 2001 to me!
Here is a chart with some decent TA
https://www.barchart.com/futures/quotes/A6Y00/technical-chart?plot=CANDLE&volume=contract&data=MO&density=X&pricesOn=1&asPctChange=0&logscale=0&indicators=WILLR(21,100);SMA(10);SMA(50);STOSL(14,3)&sym=A6Y00&grid=1&height=500&studyheight=100
Thanks Norvast. I can see the similarities, but this chart still makes me nervous. I won’t be happy until it breaks back above the 2001 support line.
Bear flag, $XJY looks the same.
I vote for inverse head and shoulders. My scotch says I am right. Have no fear knight ss of rouund tabal we iss goin t b fin…….
Knights of the round table, lol. I’m feeling a little battle weary.