I'm new at using charts so please be careful when using my ideas!
What I see is a pattern that is getting tighter and tighter. It is amazing for me to see it happening as I've been told by everyone I've ever talked to that there are "no' patterns and that the stock market can NOT be predicted.....
However. This is my attempt to predict the market action of UWTI based on my observations.
You can clearly see a tightening "spring" like action. It will end soon. Maybe a day or two. It depends on how tight it gets. Either way it will end soon.
My feeling is that the floor is a little over $10 and that once the "micro-squeeze" is over (soon) this will go higher.
Good luck everyone and please remember I'm very new at reading charts!
Please use my information with extreme caution.
What I see is a pattern that is getting tighter and tighter. It is amazing for me to see it happening as I've been told by everyone I've ever talked to that there are "no' patterns and that the stock market can NOT be predicted.....
However. This is my attempt to predict the market action of UWTI based on my observations.
You can clearly see a tightening "spring" like action. It will end soon. Maybe a day or two. It depends on how tight it gets. Either way it will end soon.
My feeling is that the floor is a little over $10 and that once the "micro-squeeze" is over (soon) this will go higher.
Good luck everyone and please remember I'm very new at reading charts!
Please use my information with extreme caution.