i had a look at 2008-9 crude oil bottom, it took approximately 3 months of consolidation before
it recovers
NOW, price is embedded inside an inverted pyramid.
But i see a F flag! is it bullish or will the price developed into a bear flag like the purple rectangle?
So far, this consolidation lasted for about 1.5 months.
There is no clear signal for me yet although MACD & RSI are curving up.
Are you already bottom picking?
P.S. price is still under 50 ema for the moment
it recovers
NOW, price is embedded inside an inverted pyramid.
But i see a F flag! is it bullish or will the price developed into a bear flag like the purple rectangle?
So far, this consolidation lasted for about 1.5 months.
There is no clear signal for me yet although MACD & RSI are curving up.
Are you already bottom picking?
P.S. price is still under 50 ema for the moment