If CL completes this H/S pattern, then going long from the $42 or $41 area will be very profitable up to around $58 or $60.
I believe that CL will need to get down to the $41 area to complete the H/S, but cannot dip below my purple dotted TL as that is the top of Wave ( I ) and would invalidate it. Time will tell and they can always stretch it out as its currently in a descending channel.
I believe that CL will need to get down to the $41 area to complete the H/S, but cannot dip below my purple dotted TL as that is the top of Wave ( I ) and would invalidate it. Time will tell and they can always stretch it out as its currently in a descending channel.
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