As per previous idea attached, Oil has reversed breaking the wedge but with no substantial power stucking at 56.7 major resistance.
Currently is still in the downtrend channel, but wedge has been broken.
Since not having yet broken the resistance at 56.7, Oil could reverse to touch the lower trendline to complete ABCDE pattern.
Mid-West tension could bring price back to 63.
What do you think?
Not financial advise
Currently is still in the downtrend channel, but wedge has been broken.
Since not having yet broken the resistance at 56.7, Oil could reverse to touch the lower trendline to complete ABCDE pattern.
Mid-West tension could bring price back to 63.
What do you think?
Not financial advise
Trade active:
Nice Fakeout! Expected but not owed to close the gap completely; however my order at 55 has been filled, let see if now can have the power to break 56.7 resistance.
Trade closed manually:
SL at breakeven hit, pattern invalidated
