HSI 4-hour chart: Double Top

Price hit a ceiling, backed off, then hit the same ceiling again.

October 15: The Hang Seng on the 4-hour chart confirmed a double top today.

A double top is two rejections from the same area. The dip between them creates the neckline. It only confirms when price closes below that line. That close confirms the shape.

This one has done that. Price is now below 23987. The measured target is 23473. The invalidation level is 24534, a close beyond it cancels the pattern.

So it is still open. Neither level has been reached yet.

A pattern never guarantees its target, and the same shape fails just as often.

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