Is Double Tops Pattern Bullish or Bearish?

Example of Double Tops Oil Trading Chart Pattern

Double Tops Oil Trading Chart Pattern is a Bearish Crude Oil Trading Pattern - Double Tops Pattern is a Bearish Oil Trading Signal Pattern

Summary:

• Double tops crude oil chart pattern forms after an extended move upwards- upwards oil trend
• Double tops crude oil chart pattern signal indicates that there will be a reversal in the crude oil market trend
• We sell when crude oil price breaks-out below neck-line: as explained on the crude oil trading example explained below.

Analysis of Double Tops Oil Trading Chart Pattern?

Double tops crude oil pattern look like an M-Shape pattern, the best reversal oil trading signal from the double top crude oil chart pattern is where the second top is lower than the first top as shown below:

This means that the reversal oil signal can be confirmed by drawing a downwards oil trend line as shown below. If a trader opens a sell oil trade using this double tops reversal oil signal the stop loss will be placed just above this downward oil trend line.

Analysis of Double Tops Crude Oil Trading Pattern - Example of Double Tops Oil Trading Chart Pattern