Global Logistic Prop Ltd (MC0): Double Top Reversal [Technical; Break Down]

As its name implies, the pattern is made up of two consecutive peaks that are roughly equal, with a moderate trough in-between.

Although there can be variations, the classic Double Top Reversal marks at least an intermediate change, if not long-term change, in trend from bullish to bearish. Many potential Double Top Reversals can form along the way up, but until key support is broken, a reversal cannot be confirmed.

 

Immediate Support: $2.02

Immediate Resistance: $2.22