JohnBaron

BAR Bottom Reversal

TVC:USOIL   Crude Oil (WTI)
319 2 6
Long term view of WTI. Bukowski Patterns.

Break out would suggest a complete reversal.
Comment: Someone asked me separately about the timing. It's not specified, however Bukoski suggests that a buy be initiated once the daily candle closes above the top line of the parallel channel. I show a few possible scenarios but neither may happen just yet. WTI has come off, touched and retreated, that top purple channel line twice within the last week.
Comment: We have one confirmed daily open/close above the break out line. Look for longer term reversal.
Comment: Well we clearly have broken into the Run Phase. Long term bull run. Expect some pull backs, accumulate. Shorts ought to think very short term.
Complete reversal to the up or down side?
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BAR bottom reversal pattern is up - the exit is flagged when it crosses the channel - a solid daily candle close above the red line. It may retrace but Bukowski suggests it's in the reversal phase at that point.
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