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Tech view: Understanding double top and bottom patterns

A double bottom is formed following a single rounding bottom pattern which can also be the first sign of a potential reversal

Avdhut Bagkar  |  Mumbai 

Double top and bottom patterns are formed from consecutive rounding tops and bottoms. These patterns are often used in conjunction with other indicators in technical charting. A double top pattern is formed from two consecutive rounding tops.

The first rounding top forms an upside-down ‘U’ pattern. Rounding tops can often be an indicator for a bearish reversal, as they often occur after an extended bullish rally. If a double top occurs, the second rounded top will usually be slightly below the first rounded tops peak indicating resistance and exhaustion. Their formation ...

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First Published: Thu, December 19 2019. 09:17 IST
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