ASX200 - Forming a H & S Pattern on the 4 hour Chart

20 Mar 2019

It has completed a retracement back up to 6274 (0.886% fib level) of the move down from 30/08/2018 to 21/12/2018. It is now forming a H & S pattern on the 4 hour chart. Watch for a break of the neckline on bearish sentiment or a bounce back up if the neckline holds. Current RSI below 50

21 Mar 2019

Not

If it closes above 6215 then the pattern is negated