June 1, 2016

  • Crude oil 4 hour shows price staying within the rising wedge. Price did violate the support line of the pattern but crude bulls for now has managed to keep price above the support line.
  • Crude bulls need price to get back above 200 Hour SMA to avoid a bigger correction.
  • Crude bears need price to close and sustain below 4 Hour cloud.


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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore