Will the Rectangle hold or fail? Plot your targets on the chart.
Sideways movement between parallel supports.
Bullish continuation if preceding move was up.
Reversal pattern. Price likely to break downwards.
Bullish continuation pattern.
Market participants tracking Valero Energy should note the latest formation. Price has moved to $235.58 (-2.69%) amidst recent volatility. Price action has carved out a classic Bullish Flag. Volume is average (0.63x avg) with moderate trend strength (7.7). A potential breakout level is identified at $258.43, targeting $341.43 with support near $230.2 (R:R 2.94).
What is your outlook on VLO?