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A quick move expected on International Business Machines Corp. as it starts approaching a support line of a Channel Down

International Business Machines Corp. is heading towards the support line of a Channel Down and could reach this point within the next 2 days. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.

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After testing the support line numerous times, FRA40 is once again approaching this line. Can we expect a bearish trend to follow?

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Lean Hogs JUNE 2019 – approaching a support line that has been previously tested at least twice in the past

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