Something To Watch – Crude Oil — Developing Trade
Crude Oil — Developing Trade
The weekly continuation graph (Crude Oil) continues to form a possible 14-month inverted H&S bottom pattern and is flagged as a Developing Trade possibility. Notice that the right shoulder has taken the form of a possible symmetrical triangle on both the continuation and Dec contract charts. A close by the Dec contract above 49.00 would represent a buy signal, although diagonal patterns (symmetrical triangles included) lack reliability. Factor is flat.
(Crude Oil – Daily)
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