Yesterday we talked about a potential trade set up (long) for TSO, there were a few things we'd be looking for.
You may recall the large triangle, this could also be a short set up although that wasn't my initial impression, but after taking another look at it, this is pretty large for a consolidation triangle. The point is, we need a head fake move below or above the triangle to determine what is going on and that is likely to set up a trade.
And this morning, it's moving in the direction we were looking for yesterday.
If interested, set some price alerts just above and below the triangle.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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