Failure to hold above the 15500 level may see price plunge back down to the neckline at 14000. A break of that level with conviction puts the H&S pattern target at 11500.
Thursday, July 31, 2014
Japan's Nikkei at H&S Major Resistance
As shown on the following Weekly chart of the Nikkei E-mini Futures Index, price has now reached a potential Head & Shoulders major resistance level.
Failure to hold above the 15500 level may see price plunge back down to the neckline at 14000. A break of that level with conviction puts the H&S pattern target at 11500.
Failure to hold above the 15500 level may see price plunge back down to the neckline at 14000. A break of that level with conviction puts the H&S pattern target at 11500.