Over the past couple of years, the broad market (NYSE Index) and Crude Oil have correlated pretty well.
Possible both of them are creating Large Bullish patterns at the same time? Check out below.
CLICK ON CHART TO ENLARGE
Once Crude Oil started heading lower in 2014, the NYSE Index struggled to move much higher. The times when Crude Oil hit lows and rallied, the NYSE Index did the same.
Possible that Crude Oil and the NYSE index are both creating bullish inverse Head & Shoulders Patterns at the same time? Yes. Could both be creating a right shoulder at the same time? Yes
The Power of the Pattern started sharing this pattern with Premium Members nearly 6 weeks ago, at neckline resistance. We are humbly of the opinion that strength in Crude, will be viewed as a positive by stocks around the world.
