$JSESBK - Standard Bank: Is That A Double Top I See?
Since the May 2020 bottom at 8341, SBK has trending upwards albeit in a very choppy manner.
The ascent has been supported by a mid-sloping trendline which price is currently testing.
A potential double-top pattern is what has caught my eye though.
The pattern is not yet confirmed as price has not decisively broken below the 14000 range neckline.
The next few weeks should provide more clarity whether or not the trendline will continue to provide support for the bulls or the bears will seize the initiative.
The ascent has been supported by a mid-sloping trendline which price is currently testing.
A potential double-top pattern is what has caught my eye though.
The pattern is not yet confirmed as price has not decisively broken below the 14000 range neckline.
The next few weeks should provide more clarity whether or not the trendline will continue to provide support for the bulls or the bears will seize the initiative.
