Just a New Realization, Throw a Pennant in that Mix!

27 Mar 2018

Essentially the same logic spoken about in my previous article remains, but now I am faced with a massive pennant formation forming as well. While pennant formations are typically continuation patterns, which means it could continue the rise preceding the temporary bubble, but notice that it failed to make a new drive to the top of the pennant, instead choosing to retest the bottom of the pennant. The top of the pennant is the inverse head and shoulders neckline, while the bottom support is the logarithmic neckline of the head and shoulders that MPC mentioned recently. Whichever way it breaks, I can guarantee it will break violently!