Symmetrical Triangle on 4-Hour Chart of Brent as of 2020-05-10

Brent crude oil was rebounding from lows it has reached in March but the bounce has stalled lately, and the commodity was moving sideways. As a result, a symmetrical triangle pattern has formed on the 4-hour chart of Brent crude. With the previous direction being to the upside, the pattern suggests that oil can resume its bounce in the foreseeable future. Of course, it is important to remember that patterns are not 100% foolproof, therefore traders are advised to also watch other indicators...

Symmetrical Triangle on 4-Hour Chart of Brent as of 2020-05-10

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