Oil is perhaps building a scale invariance pattern . On the left, the daily chart starting to form an inverted H&S lying on the 200 DMA, the neckline of which is approximatively the 20 DMA. On the right, is the 5 min. chart, presently showing the second shoulder which is itself an inverted H&S, the neckline of which is approximatively the 200x5 min. MA. WARNING: The pattern is not yet confirmed, it will be over 1100/BL Scale invariance is a typical feature of non-linear systems.
Not
Pettern invalidated @ 19:30 The larger inverted H&S stays in play
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