the RS is now wider than I would like, remember I drew that
pattern in place on the weekly crude May/June. Seasonality wise
maybe not the best time regardless we'll see what unfolds
Almost has a C&H more than an inverted H&S actually ...
either way, I like the support provided by the MA ... so many see a
"ceiling" at 50ish, that it wouldn't surprise me a bit to see it
tag the low 60s from here
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Crude Oil - Weekly
Posted by mla127 on 4th of Oct 2016 at 05:17 pm
If this inverted H&S gets going, it will catch most likely catch the majority off guard ...
the RS is now wider
Posted by matt on 4th of Oct 2016 at 06:50 pm
the RS is now wider than I would like, remember I drew that pattern in place on the weekly crude May/June. Seasonality wise maybe not the best time regardless we'll see what unfolds
Crude
Posted by mla127 on 4th of Oct 2016 at 11:10 pm
Almost has a C&H more than an inverted H&S actually ... either way, I like the support provided by the MA ... so many see a "ceiling" at 50ish, that it wouldn't surprise me a bit to see it tag the low 60s from here