WTI showing a clear Head and Shoulders pattern in Weekly time frame.
Currently trading at around $68.
Short trade favored on a drop below $60 with a stop of $65.
Targets $32 which is the zone of yearly virgin pivot. Next target which is based on Head and Shoulders pattern is $7 to $10.
Since this is a weekly time frame, might take a year plus for the targets to reach. So actual trades to be taken in lower time frame managing pull backs.
Currently trading at around $68.
Short trade favored on a drop below $60 with a stop of $65.
Targets $32 which is the zone of yearly virgin pivot. Next target which is based on Head and Shoulders pattern is $7 to $10.
Since this is a weekly time frame, might take a year plus for the targets to reach. So actual trades to be taken in lower time frame managing pull backs.
Trading is my passion.