WTI Light Crude OilShort
WTI Inverted Cup and Handle for Break of 72
WTI has formed an Inverted Cup which took 1 month to complete.
There is now a Handle forming, be it a Triangular Consolidation.
From the Ultra High VSA print on Monday of this week, there is a progressive contraction
of Volume.
Looking for a break of Consolidation. The inverted Cup and Handle is a Bearish Continuation
pattern.
Momentum is in the Sell Zone, but no OS as yet. Room to move.
The Target is the December 23 Swing Low at 68.00.
With price below all 20/50/200 , the bias is Bearish on WTI.
There is now a Handle forming, be it a Triangular Consolidation.
From the Ultra High VSA print on Monday of this week, there is a progressive contraction
of Volume.
Looking for a break of Consolidation. The inverted Cup and Handle is a Bearish Continuation
pattern.
Momentum is in the Sell Zone, but no OS as yet. Room to move.
The Target is the December 23 Swing Low at 68.00.
With price below all 20/50/200 , the bias is Bearish on WTI.
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