WTI / Crude / CL / USOIL
Whatever you want to call it I see a bread and butter H&S pattern playing out
Wouldn't be surprised if we see another test of S1 to shake weak longs out but the support held well
Right shoulder pull back currently bounced off the 50% retracement level which is another confluence i look for
Strong inverse dollar correlation could mean that with my bullish dxy bias the pattern may fail to S2 so will be monitoring DXY closely
Whatever you want to call it I see a bread and butter H&S pattern playing out
Wouldn't be surprised if we see another test of S1 to shake weak longs out but the support held well
Right shoulder pull back currently bounced off the 50% retracement level which is another confluence i look for
Strong inverse dollar correlation could mean that with my bullish dxy bias the pattern may fail to S2 so will be monitoring DXY closely
