Possible inverted HS pattern under development
Hi Folks:
After the joint release of SPR of USA, Japan, South Korea, India and China, price went up instead of down, defying the market logic. The results of the SPR will be seen in the market in the coming weeks, not right away, so we could have one last attempt to go above 80$ and then oil will plummet hardly.
This possible inverted HS pattern could be key for bulls, while bear seem to have more reasons to hold tight onto their open shorts.
Cheers
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After the joint release of SPR of USA, Japan, South Korea, India and China, price went up instead of down, defying the market logic. The results of the SPR will be seen in the market in the coming weeks, not right away, so we could have one last attempt to go above 80$ and then oil will plummet hardly.
This possible inverted HS pattern could be key for bulls, while bear seem to have more reasons to hold tight onto their open shorts.
Cheers
-------------------------------------------------
Remember, if you liked this idea don't forget to click LIKE and FOLLOW. That will encourage me to continue charting for you.