USOil setting a bottom in a larger ascending triangle

11 Nov 2016

Using the weekly and daily chart for USOil, I think that price is setting a third base in an ascending triangle. There looks to be a good area of support at the 42.9x - 43.1x area and will watch to see if price moves up off this support. Watching the HA chart (top) for some type of pattern to signal trend change along with confirmation in indicators. If this plays out, eventual target is 52. Furthermore, this could be the base to a much larger move to the upside. I'm currently on side waiting to see price action on 11/14 - 11/15.