“A potential double top is forming against the August 2022 correction high, and May 2022 reaction is low at 25,300,” QCP Capital’s market insights team said in an update published Wednesday. “Above that, we have the huge 28,800-30,000 resistance, which is the Head and Shoulders neckline. Until these levels break, our 5 wave count still remains valid, with a final Wave 5 lower to come.”
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