Weekly Head and Shoulders? Strong bearish close last week on the weekly after bears stepped in from around 1.21500 driving market prices lower. This has created what seems to be a right shoulder with price pushing towards the neckline for the completion of the pattern. High volume and a strong bearish engulfing weekly close last week indicates that sellers have now stepped into the market and we could see a trend reversal play out. How low can we sink?
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