On this daily chart of Australian oil giant Woodside petroleum, the share price looks to have consolidated in an earlier trading range between $27.90 and $29.60.

An uptrend looks to be emerging within this consolidation pattern, and the share price is on the verge of breaking out of the range to the upside.

If it does, this would be a bullish signal for further gains.

This post does not take into account any non-technical considerations.

Categories: Chart Review, Trading opinion

Tags: Consolidation patterns, Woodside Petroleum