JP Morgan (JPM) - Potential False Break Setup After Key Support Broken | Jun 8

Major support broken JPM 2ndSkiesForex

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JP Morgan (JPM) – Possible False Break of Key Support (Daily chart)
After gaining 24% between November 2016 and February 2017, JPM topped out at ~94.00 before falling back to the MT support zone around 83.00-84.50.

At the moment, we are looking at a possible false break setup of this support zone and if price manages to close and stabilize above the zone again, it is more likely IMO we will see a move back towards the all-time high at ~94.00 with only minor resistance around 88.00 standing in the way.

In case this support zone fails …

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