I post a 2009 chart, to see the similarities with today's situation and let you preapare for the next 2-4 months.
At the beginning of 2009 oil broke out of a triple bottom. The breakout was on 17.03.2009.
Next day we had a testback to the breakout and price rallied 10$ for 2 weeks.
No pullbacks. No red candles.
After this initial rally we had a pennant consolidation for a month. After that a 1.5 months rally came from 50$ to 75$.
With 3 small daily pullback.
I want you to prepare for a stronger rally in oil than 2009.
If you are good and can wait you will make a horrible money in 3-4 months. If you try to short or try to call the top in 1-2 weeks your account will go to zero.
You see my gold posts as well. Can you see the similarity between this chart and gold's chart?
Gold price after breaking out from the pennant might run out of the screen. And i tbroke out last Thursday.
At the beginning of 2009 oil broke out of a triple bottom. The breakout was on 17.03.2009.
Next day we had a testback to the breakout and price rallied 10$ for 2 weeks.
No pullbacks. No red candles.
After this initial rally we had a pennant consolidation for a month. After that a 1.5 months rally came from 50$ to 75$.
With 3 small daily pullback.
I want you to prepare for a stronger rally in oil than 2009.
If you are good and can wait you will make a horrible money in 3-4 months. If you try to short or try to call the top in 1-2 weeks your account will go to zero.
You see my gold posts as well. Can you see the similarity between this chart and gold's chart?
Gold price after breaking out from the pennant might run out of the screen. And i tbroke out last Thursday.