You might remember a couple years ago in 2015 there was an oil glut. This was supposed to send the price into a tail-spin because there was too much oil for the price to come back up before the economy suffered drastically from it. There's still an oil glut. If you'd only gone by the news you would've expected the entire market to crash as a result. It didn't. What happened was OPEC created a price fix. It's completely manipulated and imaginary at this point. The markets just decided to play along.
If you want to be good at technical analysis you shut out the news. It's a distraction. You stay away from it as much as you can so you can watch trends, market movement, etc. because it's a much more accurate expression of the psychology of the moment than any journalist's interpretation. Sometimes it works better, sometimes it doesn't, but the point is that you choose one or the other.
So you know, patterns do exist, do provide insight into probable moves, and this example I've shown is two thirds of a head and shoulders pattern. You may have heard of head and shoulders as they mention it regularly in main stream media and across media platforms and countless reputable websites (stockcharts, investopedia, option alpha, inestors.com, etc.).
Yes, it did just break upward, but tomorrow news could come and have it break downward again. That's the difference between doing it how you do and doing it how people who watch tech analysis do. But, I'm not imagining anything.