USOIL H4 - Looking for a possible bearish pattern formation

26 Oca 2016

It looks like the weather in China and USA are in play in these moments. However, the bullish crab pattern on D1 (green) is still valid and there’s no bullish divergence or reversal bar pattern yet, so the price may continue pressuring the downtrend.

But in the same time, on H4 chart, the bullish divergence present could help to support the idea that the price is forming a bearish pattern. Will see…

29 Oca 2016

Not

Bearish Bat pattern now in play. PRZ zone: (37.71 - 34.67), point D could go up to 35.88 before to start a new downtrend.

Bearish divergence is present on charts D1 and H4.