Has The Housing Market Topped?

Currently, REZ is creating a head and shoulders chart pattern as seen in the above daily chart and is sitting in a resistance area from the left shoulder. If the housing market is looking to top out, the recent highs hold key resistance to clear at $92.60. On the other hand, if the price breaks underneath its 50-DMA at $88.82 it will show that the price now agrees with the current weakening momentum.

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