A Rising Wedge within a potential Ascending Channel.
And the same old game of waiting for a Breakout and a Retest?
Current PA is:
1. At an Critical Level of $75.00 (Big, Round Number);
2. At the Apex of the Rising Wedge, and
3. Been capped by the Resistance of the potential Ascending Channel.
The coming Candlestick Pattern next week will helps to decide the direction.
Nevertheless, I am Bearish Bias about Oil because of the appearance of a Northern Doji right at the apex of the Wedge. However, take note that it is a Friday Candle before the US Holiday.
I am of the opinion that if ever an Evening Doji Star is developed, it could possibly send the Oil down to well below the $72 areas.
Disclaimer: “Trade at your Own Risk”
And the same old game of waiting for a Breakout and a Retest?
Current PA is:
1. At an Critical Level of $75.00 (Big, Round Number);
2. At the Apex of the Rising Wedge, and
3. Been capped by the Resistance of the potential Ascending Channel.
The coming Candlestick Pattern next week will helps to decide the direction.
Nevertheless, I am Bearish Bias about Oil because of the appearance of a Northern Doji right at the apex of the Wedge. However, take note that it is a Friday Candle before the US Holiday.
I am of the opinion that if ever an Evening Doji Star is developed, it could possibly send the Oil down to well below the $72 areas.
Disclaimer: “Trade at your Own Risk”