a chartists commentary please, page-4

Hi Mitis,
Have a slightly different interpretation of the chart formation on RIV.
Yes, it does appear to be forming a H & S pattern with the right shoulder complete and just awaiting a pullback to the neck line which I see at about $8.90.
Theory says that if the neckline is broken then the next target is the distance from neckline (8.90) to the high of the formation (11.25)which is $2.35 extrapolated down from the neckline which is 6.55.

Of course the pattern may recover at it's present point or at the neckline and confound charting theory.

I have been waiting for an entry into RIV but have been put off by the ridiculously small parcels (1,76,25 etc)going through and it's volatile price action.

Monday will be interesting.........

jumper3