Jrussell86

MUR Inverted H&S

Long
Jrussell86 Updated   
NYSE:MUR   Murphy Oil Corporation
Inverted HS within symmetrical triangle. Neckline has been penetrated and closed above 3% of NL showing pattern valid. After nice retrace within 4% of NL its ready to resume trend. Upside potentioal > 19% or $5.5 increase.
Comment:
MUR has broken above neckline, however pattern has not been validated due to non decisive breakout. price must close 2-3% above neckline w/ decent volume. or gap up w/ high volume
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