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On July 10th, the National Health Commission issued the "Notice on Strengthening the Management of Continuous Medication Use for Residents." The Notice provides policy support for establishing a scientific and standardized mechanism for managing continuous medication use for residents, forming a fair, accessible, systematic, continuous, high-quality, and efficient medication service system. It makes specific provisions in three main aspects: First, establishing and improving a multi-level management mechanism. Based on the actual situation of information technology construction at the provincial, municipal, county, and closely integrated medical consortium levels, the functions of continuous medication use management for residents within the region will be expanded. Second, promoting the co-construction and sharing of medication information, mainly including prioritizing the use of national standards for data collection, recording complete medication information for residents, standardizing individualized medication management for patients, establishing and improving regional medication monitoring and analysis mechanisms, assisting in improving clinical pharmacy service capabilities, strengthening the supply of convenient and beneficial services for residents, and establishing a clinical medication feedback mechanism. Third, standardizing the entire process management of continuous medication use for residents, mainly clarifying the management responsibilities of health administrative departments at all levels and the leading hospitals of closely integrated medical consortia.The National Bank of Kazakhstan reported that Kazakhstans net gold and foreign exchange reserves in June totaled $60.161 billion (a 7.8% decrease month-on-month).On July 10th, the National Energy Administration issued the "Action Plan for Energy Conservation and Carbon Reduction in the Energy Sector (2026-2028)". The plan proposes to conduct research and development on cutting-edge low-carbon, zero-carbon, and negative-carbon technologies. Focusing on key areas such as the clean and efficient utilization of fossil fuels and the large-scale utilization of renewable energy, the plan calls for increased efforts in forward-looking and strategic research on major cutting-edge technologies, accelerating breakthroughs in key technologies such as supercritical carbon dioxide power generation and CCUS, tackling key technologies for flexible and efficient wind and solar hydrogen production and large-scale safe hydrogen storage, and achieving breakthroughs in core technologies such as green hydrogen synthesis catalysis, low-carbon synthesis processes, and long-distance storage and transportation.JPMorgan Chase lowered its price target for Chevron (CVX.N) from $224 to $190.On July 10th, the National Energy Administration issued the "Action Plan for Energy Conservation and Carbon Reduction in the Energy Sector (2026-2028)". The plan proposes optimizing the industrial structure of oil refining and coal-to-oil gas. The oil refining industry will adhere to capacity reduction and replacement, and newly built refineries must meet benchmark energy efficiency standards. It will strengthen coal-to-oil gas production capacity and technology reserves, improve conversion efficiency, and promote energy consumption and carbon emissions per unit of product to reach or exceed industry-leading values. It will accelerate the upgrading and transformation of the oil refining and coal-to-oil gas industries. It will orderly promote the replacement of steam turbine drives with electric drive systems. It will promote the deep integration of coal-to-oil gas, oil refining, and new energy industries, encourage related projects to carry out large-scale replacement of green electricity and green hydrogen, and gradually reduce the use of fossil fuels for hydrogen production. It will promote the large-scale application of CCUS (Coal-to-Gas and Gas).

Double Top Pattern

Jason Douglas

Oct 25, 2021 13:27

 

    A Double Top Pattern occurs in uptrend when the price reaches a high point, retraces, rallies back to a similar high point, and then declines again.

The low point of the retracement between the two peaks is marked with neckline. This line, when extended out to the right, is useful for trading and analyzing.

    双顶1.jpg

 

How to trade Double Top Pattern?

   1.  When the pattern has fully formed it means the uptrend is over, and a downtrend is likely underway. You may consider exiting long positions and focus on taking short positions.

    双顶2.jpg

 

    2.  Draw a neckline between the two retracement lows on a double top pattern, when the price drops below neckline it can also be used as an entry point.  Also place a stop-loss order just above the high point of the second top.

    双顶3.jpg

 

    3.  Double tops also give an indication of how far the price could drop once the pattern completes. Take the height of the pattern and subtract that height from the breakout point of the pattern. For example, if a double top peaks out at $50, and retraces to $48, the pattern is $2 high. Subtract $2 from $48 to get a target price of $46. These targets can be used for analysis purposes, or to assess the potential. 

    双顶4.jpg

 

There are also double bottom pattern, which is upside down versions of the above, and mark the end of a downtrend.

 

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