Potential US30 Head N Shoulders for Start to Q2?
Q2 2022 closed with greatest losses since 2020. Mainly using Head n Shoulders as a point of reference.
Price could recover, if so, looking to see how price reacts around the 35000 level. Obviously if it does, at least looking to see a move towards most recent highs.
If price is unable to reclaim 35000 I am looking for clear signs of rejection and unwillingness for buyer step above 35000. This could be one potential catalyst for a move to 34600 or 34400.
Around 34400 there could be a quick reclaim in price which would signal a potential formation of the right shoulder of this pattern. what happens there we would have to see in the coming week.
If 34400 doesnt hold support, I would consider this price enterting into seller territory. I would then be looking to see if price has enough momentum to re approach and challenge 34000.
Price could recover, if so, looking to see how price reacts around the 35000 level. Obviously if it does, at least looking to see a move towards most recent highs.
If price is unable to reclaim 35000 I am looking for clear signs of rejection and unwillingness for buyer step above 35000. This could be one potential catalyst for a move to 34600 or 34400.
Around 34400 there could be a quick reclaim in price which would signal a potential formation of the right shoulder of this pattern. what happens there we would have to see in the coming week.
If 34400 doesnt hold support, I would consider this price enterting into seller territory. I would then be looking to see if price has enough momentum to re approach and challenge 34000.