So Oil has been correcting and given the bearish trend for sometime this correction is nearing its end.
Potentially a Head & Shoulders pattern could be forming and the neckline would indicate a move lower to the missed monthly pivot. I'm also seeing another pattern which if this H&S is confirmed will confirm the next pattern. Place sells under the 43.2 mark aiming for initially 40 and then sell again on the retrace of this move.
For more information, either follow me here for setups or visit my site: www.ejfxtrading.com
Potentially a Head & Shoulders pattern could be forming and the neckline would indicate a move lower to the missed monthly pivot. I'm also seeing another pattern which if this H&S is confirmed will confirm the next pattern. Place sells under the 43.2 mark aiming for initially 40 and then sell again on the retrace of this move.
For more information, either follow me here for setups or visit my site: www.ejfxtrading.com