CL11 has formed an interesting pattern and is now in a tight wedge with a target of $45. My idea is that it will break to a channel downward and then reform into another wedge pattern this time with a target of $35. I think that it will then break to the upside again.
Actually looking at this chart now it seems obvious to me that the new wedge target would be $40 not $35 and that the low would hit the $36 mark not $32. Graham.
graham.edwards84
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Sorry guys for some reason this idea published 2 times. Does anyone know how to delete a published chart? Thanks.