Thursday, August 28, 2014

WTI OIL one pager forming Symmetrical Triangle pattern, Near bottom support area


WTI OIL is showing sign of Symmetrical Triangle Pattern Formation where its near the lower support level at point ‘e’ around the level of 92.55$ and once this support of 92.55$ - 92$ holds reversal is expected in WTI Oil where on higher side falling trend line resistance is seen at 104$ where as crossover above the same will confirm the breakout of the pattern. If we take breakout at 104$, Expected target as the height of the triangle comes to 130$ on higher side. We expect small profit booking on the way to test the target of 130$. 

No comments: