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For bullish case watch for continuation of CCI pos div on chart…BEARS NEED TO BREAK THIS DIV AND TREND LINE.
This is not an ideal div…what it is saying is the potential right shoulder has more internal momentum than the possible left at the same price level.
If the blue trend line is breached next is 2.95 for UWTI. Could be an IHS in the making? This is an important juncture.
http://stockcharts.com/h-sc/ui?s=UWTI&p=120&yr=0&mn=3&dy=0&id=p79955929603&a=407239494&listNum=1
FYI this would be a continuation IHS…rare but does happen. HS patterns are better at trend tops and bottoms.
At 3.18 my guess is that’s the bottom or close enough to it. I had a slightly different trendline but I like yours better. Mine connected up a bunch of prior lows, had a slight descending angle to it and today would have been around 57.50 for WTI. My predicted top would be around 61.40. That’a a top line that is a clone of my bottom and placed at the last top. It kind-of lines up with the first top and more or less with the others from May. 3.65/75 is my guess; 14-18%. It seems too easy.
http://stockcharts.com/h-sc/ui?s=UWTI&p=60&yr=0&mn=0&dy=18&id=p03176899471&listNum=1&a=408934182
Tim, can you view this chart?
I did not realize one had to be a stockcharts member?
What I get is daily data covering half the width of the chart along with the indicators covering the same area. There’s no annotations or trendlines if you’ve added any.
This one is the same thing; daily, 3/4 of the width, no lines or annotations:
http://stockcharts.com/h-sc/ui?s=UWTI&p=120&yr=0&mn=3&dy=0&id=p79955929603&a=407239494&listNum=1
I really ought to get a subscription and I would imagine most people here have one. If you can post an image that’s great but you don’t have to just for my sake. I realize it’s not as convenient as a link to a live chart.