A very strong 8 months WR of high, coming off from a 52 weeks level of 2009 2010 2013 high.
A bearish d1 flag is formed at fib5 , hence waiting for a strong bearish day for conclusive trigger.
Possible resistance due to profit taking from Tp2?
A good case for a long for Bayer from a flush of 3 months low. Playing off a bull flag. break the 4 months high will indicate trend resumption.
It was a positive affirmation of my Technical Analysis skills after correctly identifying
this flag which helped to observe a subsequent plunge for $3. Should price leave this flag, then it may signal a furthur fall of price.