OPEC meeting, breakout of triangle

TVC:USOIL   CFDs on WTI Crude Oil
Market has been narrowing awaiting the OPEC meeting. Trading volume has declined going into tighter trading ranges (red triangle). This is a great example for a symmetric triangle. Breakout direction to be determined.

Also, the greater picture shows a slowing uptrend leading into a very long term triangle. Patience is required.

My bias would be leading to the downside breakout following the OPEC meeting, but I will wait and see.

Either way once braking out I am looking into getting into some short put or call spreads depending on direction
since june time wise--long down short up sideways so yup break out soon
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out