Factors supporting the landing
Technical factors supporting price decline
The pattern of the two peaks forming on the weekly basis supports the downside to the neckline of the pattern at almost 355 levels and is also the target of the 4-hour head and shoulders pattern that has not yet been targeted.
Will the model break the neckline or not?
Firstly : If the neckline breaks, the price will continue to fall towards the target of the pattern near 340 levels.
Second: In the case of rebound from the neckline as a resistance level I think that the price will work to form the right shoulder of the head and shoulders model in the daily range, similar to the model head and shoulders formed over a period of 4 hours, the price can return to 50% Fibo from the drop levels of 378 - 355 at 367 and then return to re-test the neckline which, if broken, will open the way to visit the 40s bottom levels
All of the above supports the Shark model specified in the chart
The pattern of the two peaks forming on the weekly basis supports the downside to the neckline of the pattern at almost 355 levels and is also the target of the 4-hour head and shoulders pattern that has not yet been targeted.
Will the model break the neckline or not?
Firstly : If the neckline breaks, the price will continue to fall towards the target of the pattern near 340 levels.
Second: In the case of rebound from the neckline as a resistance level I think that the price will work to form the right shoulder of the head and shoulders model in the daily range, similar to the model head and shoulders formed over a period of 4 hours, the price can return to 50% Fibo from the drop levels of 378 - 355 at 367 and then return to re-test the neckline which, if broken, will open the way to visit the 40s bottom levels
All of the above supports the Shark model specified in the chart
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