This is a pennant and represents a pullback from the highs around 1550.
It's testing the pattern's boundary and might break out to resume the uptrend which started in June.
PS: Stochastic has further to go so an upside breakout is more probable.
It's testing the pattern's boundary and might break out to resume the uptrend which started in June.
PS: Stochastic has further to go so an upside breakout is more probable.