Recently, we observed a price top in Halliburton. More specifically, we saw a head and shoulders pattern completed. Then we also saw price rally and test this price top. It looked like the market was respecting the price top and thus we thought a bearish swing was pending. Halliburton (HAL) 4H Chart(click to enlarge)First Target Acquired, Next Around 47:- During the 3/9 session, price came down to the 50.00 area. - In the previous assessment, we noted that the 50 area would be the first key area to monitor for support. - I think we can expect some consolidation or a rebound from 50.- However if the market is still bearish, we should see resistance around 53. - If the current bearish correction has legs, we might look for further downside towards the 46.60-47 pivot area (resistance of a range throughout mid-2016).