Crude Oil – Triangle Possibility from January 3rd

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Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Price action since 2017 began may be a triangle that gives way to a terminal thrust (higher then lower). Remember, positioning (COT) is extreme so the thought of a failed breakout has been forefront in my mind for a while. If crude resumes higher, then pay attention to the median line. If it breaks lower, then pay attention to 49.