WTI H&S / 7
After a final jump to attract buyers, we eventually proceeded with the due correction we were waiting for.
Whether it will be a pullback en route to a construction of our inverted H&S, or a resuming of the downtrend, will be determined following its shape and depth. Above the 200 DMA (orange line), probabilities remain intact. The support of last resort is the 50% Fib of the pattern (@ $ 38.84). Under this Fib, as stated in our first post, probabilities evaporate.
Whether it will be a pullback en route to a construction of our inverted H&S, or a resuming of the downtrend, will be determined following its shape and depth. Above the 200 DMA (orange line), probabilities remain intact. The support of last resort is the 50% Fib of the pattern (@ $ 38.84). Under this Fib, as stated in our first post, probabilities evaporate.
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