As you can see there was a false breakout above the top rail and then an equal false breakout below the bottom rail, symmetry false breakouts, tan circles.When that occurs we need to adjust the top and bottom trend lines to the new high and low to get the new pattern. If the price action breaks out above the new top rail we’ll have a bullish rising wedge that has...
$25.35 Measured move target. 200% Fib. 6 year resistance line. Slight bear divergence RSI. Bring it on. My favorite commodity. Ready both ways.
Don't want to call any tops or anything, just the patterns as I see them. Last descending triangle ABCDE was a fairly accurate recognition. Same ABCDE now but for an ascending wedge (bearish pattern). Wish I could have spotted it sooner. Also Seeing some Bear divergence in my RSI.
XIV Was overstretched. Fell back into this interesting channel. Not sure whether coincidence or not but the support and resistances line up very well. Also the megaphone pattern is always fun to see. Caught the 76% Fib this afternoon.
Just some indicator Divergences I'm seeing on the hourly. Rudimentary elliot wave 1-5 with following ABC retrace. Only thing that makes the proposed elliot wave significant is that C occurs where the previous resistance was. Resistance becomes support.
Laughing at every "analyst" who were calling a H&S pattern for months and months.
$53.50 Sell target if this bull flag pattern plays out. Showing Bull divergence and indicator double bottom patterns currently.
The power of TA never ceases to amaze me. Price came back to finally retouch the C&H neckline from several months ago. 50% fib bounce. There's the potential this slow downwards/sideways bear slide for the last month is actually a bull flag
Think this channel resistance will be too much for this short term up move.