A double bottom pattern has formed on the daily chart of WTI crude oil. The pattern forms after prices test a support level and fail to break it. It is a reversal pattern, which promises a rally after a period of a downside movement. On the present chart, the yellow lines form a channel. The bottom line shows the support level, which prices failed to breach. The top line is situated at the high of the rally, which happened after the first test of the support level. The cyan line is plotted at the 10% of the channel’s width above the top border of the channel and offers an entry point for long positions for those ... (full story)