themarketzone
Short

Rising Wedge, AB=CD and Psychological Level

NYMEX:CL1!   Light Crude Oil Futures
OPEC meeting is just around the corner and Oil             is pounding on the 50$ resistance zone for almost a week now.
Rising Wedge , AB=CD pattern and a Weekly Structure Zone will try to prevent Oil             from climbing higher

Tomer, The MarketZone
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Comment: Testing top of Resistance Zone
Bottom of broken Wedge pattern
Comment: Resistance Zone held and Oil price declined last week. I think that's a positive sign to my setup. Already booked more than 150 pips on $WTI last week.
Waiting for continuation but there may be a pullback
http://goo.gl/28uI95
Comment: Short term pullback into resistance that we saw last week perhaps will allow another bearish entry next week as Wedge pattern was confirmed by sharp price decline
Comment: Setup still valid (profit)
Trade closed: target reached
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