After the successfull breakout of the pennant price almost tested back the upper trendline of the pennant last Friday.
The breakout should go at least to the 2014 July intermediate high (1345) It is also very close to the target we can count from the pennant's height (highlighted by green). If the rally is strong enough we might test the 2014 March intermediate high. (1394)
Please see my OIL - De Ja Vu chart....
The situation very similar...
The 2nd part is just starting , should be as long as the first part of the rally , or even longer.
Watch MACD and TSI crossover ,,,
DON'T TRY TO SHORT IT ! YOU CAN LOOSE EVERYTHING !
The breakout should go at least to the 2014 July intermediate high (1345) It is also very close to the target we can count from the pennant's height (highlighted by green). If the rally is strong enough we might test the 2014 March intermediate high. (1394)
Please see my OIL - De Ja Vu chart....
The situation very similar...
The 2nd part is just starting , should be as long as the first part of the rally , or even longer.
Watch MACD and TSI crossover ,,,
DON'T TRY TO SHORT IT ! YOU CAN LOOSE EVERYTHING !