reveals a megaphone pattern that has already experienced a downside break. This implies the presence of additional room for decline, indicating the possibility for the futures contracts to descend further, potentially reaching approximately 4,250.as well. Notably, there’s a substantial gap in the chart around the $330 mark that remains unfilled, adding to the existing set of features.
rate, propelling it above the earlier peaks situated around 5.1%. This surge could result in the 2-year rate advancing to approximately 5.3%, marking a level not witnessed since 2006Meanwhile, Meta has essentially filled the price gap around $325 and has been on a downward trajectory since then. The chart depicts a consistent pattern of breaking through successive trend lines and dipping below a couple of moving averages.
Additionally, there are multiple unfilled gaps at lower price levels, with the initial gap anticipated to be filled at $210. Remarkably, the stock’s current state isn’t even classified as oversold, as indicated by its Relative Strength Index at a mere 40.Index, subsequent to its upward movement stemming from the inverted head and shoulders formation, has encountered an inability to sustain its progress and has retraced to find support at the $80 level.
A breach below this support at $80 would likely initiate a reexamination of the previous lows situated around $73. In instances where head and shoulder patterns falter, they often transition into continuation patterns reflective of the preexisting trend.KBW NASDAQ BANK Index Daily Chart
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