Very similar to a cup and handle pattern but this one is often bearish.
Possible that this will have a leg up to form a makeshift handle, but no always. This kind of looks like it already did this but hard to say for sure.
Targets in both patterns are measured by projecting the depth or the cup either up (in a bullish cup) or down in a bearish cup.
Price can stop short of these levels or even go deeper.
Life is full on unknowns.
Be safe and no recommendation.
I was a huge longer when oil was at the bottom.
When oil/gas takes it's final fall, I sure do not want to be standing under it )o:
Volatile as a volcano so hard to trade for sure.
Stop above 108.90 or where you see resistance if you are short.
Possible that this will have a leg up to form a makeshift handle, but no always. This kind of looks like it already did this but hard to say for sure.
Targets in both patterns are measured by projecting the depth or the cup either up (in a bullish cup) or down in a bearish cup.
Price can stop short of these levels or even go deeper.
Life is full on unknowns.
Be safe and no recommendation.
I was a huge longer when oil was at the bottom.
When oil/gas takes it's final fall, I sure do not want to be standing under it )o:
Volatile as a volcano so hard to trade for sure.
Stop above 108.90 or where you see resistance if you are short.