50/50 Wedge breakout
WTI price action caught inside a symmetrical wedge . We can see a clear uptrend on short term inside this wedge . Either way breakout from wedge could result in strong volume . On a Bearish CD leg we have target 70.83 and Bullish CD target 55.46. Will place an hefty short/ buy position at these key prices.
Back of my mind, I still have doubts that if price does drop and than break 55.46 - there might another harmonic pattern at play which I am not seeing. On the upside I feel confident 70.83 as target. WTI has thrown many surprises and shown lots of false breakouts. Lets hope this time price action plays out according to this prediction.
Waiting on the wedge to be broken.
Back of my mind, I still have doubts that if price does drop and than break 55.46 - there might another harmonic pattern at play which I am not seeing. On the upside I feel confident 70.83 as target. WTI has thrown many surprises and shown lots of false breakouts. Lets hope this time price action plays out according to this prediction.
Waiting on the wedge to be broken.
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