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Bryan_Ali
Jan 6, 2017 9:21 AM

Price Action is Accelerating Upwards Long

WTI CRUDE OILTVC

Description

The angle of the current pitchfork channel (Modified Schiff) that prices are moving within is larger in magnitude than the angle of the longer-dated, broad pitchfork channel. That may imply that price action is accelerating to the upside. Keep in mind, for this assumption to remain valid, the channels must stay intact.

I have overlaid a Fibonacci Circle study, as well, since it appears to mark significant price movements.

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