WTI/USOil formed a large head and shoulders pattern. After the recent oil recovery which is actually a pullback, price action reversal patterns are forming at the neckline of the head and shoulders pattern which is also a supply zone followed by an impulsive downward movement of the price.
The recent recovery in price acts as a pullback of the head and shoulders pattern which can lead to a bigger sell off..
The recent recovery in price acts as a pullback of the head and shoulders pattern which can lead to a bigger sell off..
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.