Short term Critical divergence on support of channel IH&S TP 1308 SL 1287
Buy limit on support now in play
After some correction we should see new bottom in this channel
Chart tells what to do
possible correction up to 7x-8x$ per barrel in long term perspective4
Bubble or not but trading pattern now show nice possiability to assult 5000+ correction on lower lvls 2700+ is expected but still no sign of it
Classical TA Descending Wedge pattern improved with reversal bullish bar on the border great sign to take managed position - means SL can be place smaller or maintanable during daytrading
main idea here is to complete third attemp to break ascending wedge fail to di it and reverse from 1263-1266 to 12109-12016
see the chart targeting EPA around 1222
Main idea here you can see on the chart. Bull would still have chance to achieve 1240 if break above 1214 and 1219 levels All below would consider by me as right shoulder. Would start looking for short from Monday opening!
after symmetrical triangle breached as reversal on bottom we need to make some correction in ascending wedge
all in the chart just continuation in ascending wedge
watch the price move backward now to broken support of megaphone (broadening top) so i consider as nice time to short
all in chart right shoulder projection or higher high
all in the chart simple pure TA
Price patterns on bottom