The harami cross pattern can be considered a major reversal pattern. It is better at calling tops than bottoms. In this case, it shows an attempt for WTI to hold above support of $38 a barrel. Not a time to be long or short. Wait for the next move.

Reference the last chart analysis for West Texas Intermediate.

______________________________

“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2015 TradeOnline.ca