Looking at the 4 Hourly chart, there appears to be a larger SHS being constructed with the neckline at 79.37. Immediate resistance would be located at the 50 line at 79.61. A break and close above would encourage the view that we are constructing the right shoulder with next resistance at 80.04.
The measured move of the formation would be -147 points from the neckline break.
Update - Pattern is being invalidated at present with price declining through possible neckline.
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