I consider ascending or descending triangles among the more reliable patterns, but failures of these patterns can be quite good too. EPD has formed a descending triangle on the short term, but is also finding support at the uptrend line on the monthly.
It also coincides with a similar support level on oil spot price.
Coupled with good fundamentals, a long on EPD can be a good way to play the oil recovery.
RRR is optimal for this long term trade. Fading the descending triangle pattern here.
It also coincides with a similar support level on oil spot price.
Coupled with good fundamentals, a long on EPD can be a good way to play the oil recovery.
RRR is optimal for this long term trade. Fading the descending triangle pattern here.