The most recent pattern does look like a head & shoulder (circled part) with triple tops but they are not strong enough to be a reversal pattern and looks more like a head fake. The price will very likely be going up especially with the recent period MA's above the older period MA's. From the dividing line that @maxinger has drawn to separate the "juice zone" from the "garbage zone" aka congestion zone, we can actually see a pennant chart pattern forming which is a typical consolidation pattern that indicates that the price is just taking a break before continuing the existing uptrend once it moves out of the end of the pennant WITHIN THE CONTEXT OF FUNDAMENTAL ANALYSIS. If there are any new changes in any fundamental factors impacting this security, then all of this analysis of the chart pattern goes out of the door.
@schizo is going to scold anyone who analyses charts based on historical data aka hindsight analysis.
What??!! What's hindsight analysis? We don't even know the symbol for the chart or the time period of the chart. LOL
It's going to go up from the latest price that's shown on the chart provided the current fundamental factor(s) holds.
Actually its the SPI, futures of ASX 200/XJO.AX Very difficult to get info on SPI for some strange reason, to do with the ASX run by a bunch of what seems like no hoper idiots.
Well that's not what I said. I said the current chart analysis is based on the current fundamental factors persisting into the future but should the future fundamental factors change then the current chart analysis would not be valid but I didn't specifically say a change in the current fundamental factors is the ONLY factor that will cause a price action being different from my chart analysis. Way to twist people's words. LOL But also thank you for complimenting me on chart analysis being great.
Thanks everyone and spot on Mick,it is the SPI. Apologies I didnt name it,I thought it might help to attract pure chart based opinions.