With minor resistance just overhead around 38 - 38.30, CL (crude oil futures) could reverse soon & form a RS of a H&S topping pattern. Still some work to be done so just something which I'm monitoring for now. Here's the updated 120-minute chart of CL along with the 120-minute chart posted on Friday, highlighting the two most probably scenarios: 1) A breakdown of the rising wedge (check) followed by a reversal off the top of the target zone (check) or a continued move to the bottom of the zone before a reverse (which didn't occur as the top of the zone has already produced a meaningful reaction).
Potential Head & Shoulders Topping Pattern On Crude Oil
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