ARegularGuy

WTI/ USD ( Black Gold) Bear Bat

Short
OANDA:WTICOUSD   West Texas Oil
Here on Oil (texas tea, black gold) we have a (dirty) bearish Bat pattern. the yellow line indicates the completion point of the pattern. Be mindful of the pattern completing throwing a few indecision candles and quickly reversing. the yellow line indicates an area of strong contention. Looking left we see the majority of the times price recaches this area price rejects either Up or Down. If price stalls look for a complex structure around the yellow line. typically an "M" pattern. this is not a reversal sign i feel this is more or less a correction of the current move up. Be on the look out for the longer term ABCD pattern upward.
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