Oil is making a rising wedge, target around 58

Crude Oild is making a rising wedge, it has all the characteristics of it. This means it will retest the lows at 58 very soon

Commento:

Oil seems to be planning something else, this could be the false upwards oubreak, i am closing my short around 62,50

Commento:

This small H&S could mean a reversal and confirming the false outbreak. If not, this would probably only be a small pullback towards the 62,0

Commento:

It made a small false outbreak and than dropped very fast after it. 61.80 is a support, if it drops below that i think we will look up the 58 levels again

Commento:

A bit late, went through the stop of 62.50, Oil clearly has some other plans. It has made a bull flag and will probably go above the 64