Crude Oil tends to be a very important asset, around the world. Is it the most influential/important commodity on the planet? Some think some and I am in that camp. During our webinar this week, we focused on the importance of where Crude Oil is and that it could be creating a bullish inverse head & shoulders pattern.

(Click on image to enlarge)

The week is NOT in the books as of yet. So far though this week, Crude Oil could be creating a large bullish reversal pattern (bullish wick) at an important retracement level at (1) above.

We also discussed in the webinar, several other energy related ETF’s that could be creating the same pattern.