HSBC Holdings $HSBC has been forming a topping pattern and is about to break its neckline.HSBC Daily Chart(click to enlarge)Bears in Charge:- Price action has been bearish since price pushed up to $56 early in the year. - Although the market was able to push price to a new high, it was not able to maintain a higher low. - Instead we can see that price has been coming back down to the $46.20-$48 area. - The fact that price is now under the 200-day simple moving average (SMA) makes me believe price will break below the neckline this time around. - A break below this neckline should open up the $40 level.