Replies to post #58256 on Abet Chichi2 (Chichi2)

[DiscoverGold]

Head & Shoulders Pattern on the Russell 2000
By Maurice N. Walker

* Sunday, April 21, 2013

The Russell 2000 either has completed a Head & Shoulders topping pattern or possible still in the process of completing one. If prices rise back up to the 20-day moving average or set up a lower high, we may see a right shoulder set up. However, looking at the daily chart below, you will notice that one may have already set up.

It is unclear whether the lower high at 951 is the right shoulder or part of the head formation. So it is possible that the pattern is complete and may just form a handle rather than a right shoulder. But if prices rally back to 931, then the 951 high very well could be part of the head formation.



http://thechartpatterntrader.com/

George.

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