CRUDEOIL: get ready for a strong trend
Updated
Typical squeeze pattern.
It's been over 2 months and it's still ranging! Bollinger band is getting tighter. There will probably be a breakout soon(probably in a month).
A similar situation occurred in 2015 and it ended up breaking on the downside. So, get ready for a nice trend. It might breakout either way ,to be honest.
Note: Since this is a daily chart, always make sure that you "confirm" the breakout (atleast wait for a day or two). Look at what happened during the first week of January '17.
It's been over 2 months and it's still ranging! Bollinger band is getting tighter. There will probably be a breakout soon(probably in a month).
A similar situation occurred in 2015 and it ended up breaking on the downside. So, get ready for a nice trend. It might breakout either way ,to be honest.
Note: Since this is a daily chart, always make sure that you "confirm" the breakout (atleast wait for a day or two). Look at what happened during the first week of January '17.
Note
After today's move I think we will see a break up on the upside but I am not really sure yet. I want a strong close before I can do anything
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