Discussion in 'Technical Analysis' started by ARogueTrader, Apr 12, 2004.
I am not too good with chart patterns, but is that supposed to be a head & shoulders pattern? How do you know it is a reversal and not a continuation?
I don't know.
The key resistance level is where COMS gapped down around 7.30 on March 22/23 on huge volume. That is the neckline if we do in fact have an inverse H&S.
The chart tells me we will test the 7.30 area, it doesn't say we will necessarily clear that level.
If we do though, it would confirm the inverse H&S, and would project to retest the 9.00 area.
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