FX.co ★ Actual patterns. Technical analysis and trading recommendations

The Double Bottom pattern has been formed on #MSFT M5. Characteristics: the support level 408.14; the resistance level 410.19; the width of the pattern 205 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 211 points.

The Double Top pattern has been formed on #MSFT M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 408.35 is broken, the downward movement will continue.

The Bullish pennant graphic pattern has formed on the #MSFT M5 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 412.81.

The Double Top reversal pattern has been formed on #MSFT M5. Characteristics: the upper boundary 399.66; the lower boundary 396.02; the width of the pattern is 352 points. Sell trades are better to be opened below the lower boundary 396.02 with a possible movements towards the 395.87 level.

The #MSFT M5 formed the Head and Shoulders pattern with the following features: The Head’s top is at 412.45, the Neckline and the upward angle are at 406.86/406.86. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of #MSFT will go towards 406.71.