Shoulder forming, still bullish

Shoulder forming, still bullish


RUM Wave indicators are still bullish, so I think we are seeing the right shoulder forming on the inverted head and shoulder pattern.  An argument could be made that it will pan out as depicted above, with the price pulling back to the 61.6% retracement level, which is coincident with the opposite shoulder.  At that point we would meet multiple levels of price support. That scenario would make sense against the other studies I have below the main graph.  So, my original stops will remain in place and I'll take what the market gives.