Wednesday, 19 October 2016
On the weekly chart of WTI Crude Oil, there may be a possible breakout of the inverse Head and Shoulder's pattern neckline. In the previous week, there was a feeble attempt to break up above this neckline with price closing the week near to the neckline. This week, there is a possibility we might see a closing above the neckline, given Wednesday's early morning rally and if price is able to maintain the momentum. Keep an eye on the closing this Friday.