Oil is making a rising wedge, target around 58
Updated
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
Note
Oil seems to be planning something else, this could be the false upwards oubreak, i am closing my short around 62,50Note
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 62,0Note
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 againNote
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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