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Oil Megaphone Vs. Inverse H&S

Published 01/28/2016, 01:09 PM
Updated 07/09/2023, 06:31 AM
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Crude's March Future

Oil has Either Broken Out of an Inverse H&S or is Putting in a Top Before a Move to the Bottom of the Gray Megaphone.

Crude oil has either broken out of an inverse H&S or is forming an H&S top at the top of its gray megaphone before a swoosh to the megaphone bottom and a new low.

If oil takes the time to form a legitimate topping pattern at the gray megaphone top, rather than just a quick retest of the inverse H&S neckline before continuing up, it’s going to recross the neckline for the trip to the megaphone bottom.

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