TipTVFinance

Oil completes inverse head and shoulder

TVC:USOIL   Crude Oil (WTI)
Oil             prices have completed inverse head and shoulder formation. On the weekly chart we can clearly see prices tested neckline level of $51.90

A successful breach of inverse head and shoulder would give us upside target of $77.70, which as of now appears over ambitious and could possible happen only if we get a bigger OPEC output cut.

On the other hand, failure to reach a deal at a time would mark failure at neckline level, which in itself is a highly bearish formation.
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out