Evening star

Structure is ascending channel with potential h&s in formation. H&S formation is potentially seen on a daily timeframe as an evening star. A 14% correction to the 54 neckline is highly likely as the oversupplied crude market needs to be rebalanced. Similar price action to 2009. Once the potential throwback to the neckline expect a breakdown and or a geometrical consolidation pattern to form on neckline, then the next leg up usually lasts about a month.