Crude Oil (WTI) potential scenario.
6 month Ascending Triangle brakeout within 5/12' Channel. 2008 downtrend_line(confirmation),
midpoint line channel(confirmation). MACD bullish.
Targets :
110 9/9/13 double top, horizontal support 12'
112 28/8 top, 61.8% Fibonacci extension level, brakeout line resistance, Elliot wave 3
115 (2011 high, wave 5 completion)
Invalidate break out of Triangle downside
Stop 104
6 month Ascending Triangle brakeout within 5/12' Channel. 2008 downtrend_line(confirmation),
midpoint line channel(confirmation). MACD bullish.
Targets :
110 9/9/13 double top, horizontal support 12'
112 28/8 top, 61.8% Fibonacci extension level, brakeout line resistance, Elliot wave 3
115 (2011 high, wave 5 completion)
Invalidate break out of Triangle downside
Stop 104