A bullish inverted head and shoulders pattern formed on the July Crude Oil chart. The right shoulder closed in May.

In the video below, I show you how to measure the distance from the head to the neckline which is 15 points, and then how to add those 15 points to the price of July Crude Oil when the right shoulder closed in May.

Because this market has gone straight up, Adam of Market Club thinks that a pullback of some sort is likely. Looking at the chart it does appear July Crude Oil has run up too far too fast and formed the front side of a spike up. This doesn’t mean to run out and sell.

In the video below, Adam explains what you need to watch out for if you are long July Crude Oil.

I recommend that you get Market Club’s FREE email alert on the July crude oil shown in the video below by clicking here. By signing up for an email alert, you will receive an email telling you when there is a sell triangle. Best of all, it’s FREE, so do sign up.

Technorati Tags: bullish inverted head and shoulders pattern, crude oil chart, currency traders, email alert, head and shoulders, head and shoulders pattern, july crude oil, neckline, pullback, spike, triangle, world currency

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