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Oil is making a rising wedge, target around 58

Oleh botje11
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Crude Oild is making a rising wedge, it has all the characteristics of it. This means it will retest the lows at 58 very soon
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Oil seems to be planning something else, this could be the false upwards oubreak, i am closing my short around 62,50
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This small H&S could mean a reversal and confirming the false outbreak. If not, this would probably only be a small pullback towards the 62,0

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It made a small false outbreak and than dropped very fast after it. 61.80 is a support, if it drops below that i think we will look up the 58 levels again
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Catatan
A bit late, went through the stop of 62.50, Oil clearly has some other plans. It has made a bull flag and will probably go above the 64

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botje11
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