timwest

Crude Oil Triangles = CONFUSION, Jan 2017 Futures

NYMEX:CLF2017   LIGHT CRUDE OIL FUTURES
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When there are 2 Uptrends (see green arrows) and 2 Downtrends (see red arrows), you have a TRIANGLE.

And when you have 2 failed trends and you are still in the same range, you have an EXPANDING TRIANGLE (see the blue polygon)

This makes for a very confusing time period.

Which way will it go?

We have to wait for the market to tell us. For now it is chopping all of the short term traders up.

Tim

9:51PM EST November 17, 2016 45.49 last
Comment: SPOT ON -
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Top of the triangle...
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