In true testament to the idea that a TA can make a chart say whatever she wants it to say, let’s put aside for a moment the H&S pattern (ref. weekly chart in previous update) and re-draw the daily with the post-July downtrend defined by a trend channel.
Suddenly there is confluence between the channel bottom and the lateral support zone. Just an FYI and at this point both options are open, 250-260 or the H&S target of 170 +/-, assuming that today’s breakdown holds and continues. It could also make an in-day shake out and hold the neckline.
