ERX making Diamond & wedge; will it hold with island reversal?

ERX Energy ETF made a diamond pattern. If this is a continuation pattern, In most cases price go down first to retest bottom before going up again. Then most probably, ERX may make an island reversal pattern & recover the black uptrendline. The greater wedge pattern must also hold. Then US economy continues to avoid a recession.
If this is a diamond reversal pattern, then the wedge & the next horizontal support line may also fail. This may signal a coming recession or high expectations by the market participants.
Watch out foe price action in the coming days.
Not trading advice