Will the Rising Wedge hold or fail? Plot your targets on the chart.
Reversal pattern. Price likely to break downwards.
Bullish continuation if preceding move was up.
A clear signal has emerged for Valero Energy (VLO) on the daily chart. Price has moved to $244.23 (-3.76%) amidst recent volatility. Price action has carved out a classic Bullish Flag. Volume is average (0.53x avg) with moderate trend strength (3.5). A potential breakout level is identified at $263.75, targeting $330.62 with support near $240.33 (R:R 2.86).
What is your outlook on VLO?