complex head & shoulders on the weekly chart???

A possible complex head and shoulders pattern might be developing on the weekly chart. An aggressive trader, believing that a head and shoulders top has been in formation, will begin building short positions with stop loss placed above the previous swing high of 153.3x and the 1st profit taking objective at 139.00.

Meanwhile, a conservative trader will wait for neckline at 139.00 to be broken before jumping on the bandwagon.

Extracted from Technical Analysis Of The Financial Markets (John J. Murphy)

Weekly chart as of market closing



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