Crude Oil — Acsending Triangle Chart Pattern
The ascending triangle pattern has formed on the 4-hour chart of crude oil. The pattern is confirmed, as the price rate touched twice the horizontal line and the upwardly sloping line (at $83.35 level and near $85.15), and suggests the bullish trend for the oil. The level near $85.70 is the resistance level, above which the breakout should occur to support the outlook that the price is actually going to rise further. Click the image to enlarge it to a
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