Double Top is a technical analysis term and it refers to the chart pattern that resembles an “M”. It’s formed when the prices peak and drop consecutively from a particular level. The pattern is bearish in nature as it demonstrates the weakness in a buying trend and pre-indicates a potential selling trend in the market.
For example, Gold prices peaked and crashed at $1270 twice. That makes $2300a double top level. This means that we may see another drop, or a sell behavior if the prices test $2300 in the future.