MUR Inverted H&SInverted HS within symmetrical triangle. Neckline has been penetrated and closed above 3% of NL showing pattern valid. After nice retrace within 4% of NL its ready to resume trend. Upside potentioal > 19% or $5.5 increase.
MUQ trade ideas
Stochastic divergence channel line bounceStochastic divergence channel line bounce. Should follow through and move to the top of the channel.
Alltime low...... after alltime low, i.e. no forecast possible. One can only assume that the energy values are knocked out and Murphy shall fall further.
$MUR Bullish Wedge formation 1HRMurphy Oil is in a consolidation pattern at the high of a very bullish run
Bullish Scenario: MUR clears 67.07 heading for target area at 73 and extends the move
Bearish Scenario: a failure of 65.70 would indicate the possibility of further selling as it pulls back towards support in the 60 area
