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An update on the previous analysis for the S&P 500, the price managed to break above the trend line and the first resistance area and seems to be losing momentum because the RSI is already at the upper limit.
If price fails to break above R2 we may see a correction movement until R1 or around trendline.
ALB last week showed signs of weakness, today the price managed to form a megaphone pattern, this pattern shows some uncertainty between buyers and sellers.
In these cases, the best thing an investor can do is to stay out and watch until this pattern ends.
An update on the previous analysis for the GBPUSD price to break above its downtrend and move further up to R1, currently the price seems to be losing momentum according to the RSI indicators. If the price does not break above the R1 level, we may see a corrective move up to the S1 level or up to the trend line.
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