Prices are now in a three-week-old downtrend on the daily bar chart and the specter of a bearish double-top reversal pattern on the daily chart has resurfaced.
Some fresh near-term technical damage was inflicted Thursday to raise the specter of a bearish double-top reversal pattern forming on the daily bar chart.
But the bulls do not want to see follow-through selling pressure on Friday to produce a bearish weekly low close and raise the specter of a bearish double-top reversal pattern forming on the daily bar chart.