Thursday, December 4, 2014

Crudeoil positional analysis 04.12.2014

Descending broadening wedge

Descending broadening wedges are continuation chart patterns formed by a channel that widens and is against the trend. Forex volumes tend to increase during the formation of such a wedge.

A break through the resistance line provides a good signal to trade into a continuation of the trend with a price target equal to the height that separates the pattern's high and low.