Long OIL on possible H&S, target: 75.00

3 de dez. de 2014

Price might be forming the H&S pattern. It will be confirmed if the formation's neck line is taken around 69.40. The target of the formation goes as far as 75.00, but it might be good idea to take some profits around 71.00 which will be completition point (D) of possible GARTLEY pattern forming here, plus we're in the strong down trend which might be resumed after unhit weekly pivot is tested. So go long on neckline break around 69.40, set target at 71.00 and stops below 66.50 or below the absolute low if your risk is not to high for that lewvel