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Double Top

A double top is a term used in technical analysis to describe a reversal pattern that occurs in a rising market. A double top has two prominent peaks on the price chart at about the same level. It signifies a major resistance area and is a strong signal that a rally is coming to an end and that a downturn is possible. A double bottom is a reversal pattern that occurs in a falling market and signifies a major support area and that a rally is possible. It has two troughs at about the same level.