Security has formed Double Top Pattern, Double Top Pattern is a Reversal Pattern. A short-term change in trend can be expected in the security once the security closes below the trendline. Currently the Fast (21) and Slow (50) EMA is trading near the EMA for a confirmation the price should trade below the EMA's.

 DI- is trading above DI+ indicating a negative trend in the security and ADX is trading above di+ which indicates strength in the move.

Advice:  Enter short if the price closes below the neckline.

Double Top

Jul 16 2023