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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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...If the dots don't connect, gather more dots until they do...




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Tuesday, February 06, 2018

Equifax: Head & Shoulders Formation

I last wrote about Equifax (EFX) here.

A large bearish head and shoulders formation is developing on the monthly chart below. If this pattern plays out, price would, eventually reach its downward-sloping neckline, around the 60% Fibonacci retracement level at 73.83. Longer-term major support sits well below at 40.00. The momentum indicator is at a new all-time low...signalling further weakness ahead.