The following comment appeared in the previous post on the daily bar chart pattern of WTI Crude Oil: "The entire rally since the Aug '16 low may be forming a large 'rising wedge' pattern from which the likely breakout is downwards."
Four days after the previous post, oil's price closed below its 20 day EMA and the support level of 49. That triggered a sharp correction below the 50 day EMA, the lower edge of a large 'rising wedge' pattern and the 200 day EMA - back into bear territory.
-- Four days after the previous post, oil's price closed below its 20 day EMA and the support level of 49. That triggered a sharp correction below the 50 day EMA, the lower edge of a large 'rising wedge' pattern and the 200 day EMA - back into bear territory.
Read more at:
http://investmentsfordummieslikeme.blogspot.in/2016/11/wti-and-brent-crude-oil-charts-correct.html
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