A triangular squeeze for Woodside share price

Here’s the current Woodside Energy (WPL.AX) technical picture.

You can see the trend lines squeezing into a triangle which bodes a break either way……

but to rise further, WPL needs to make a higher high (than the recent peak) and NOT make a lower low (than the recent trough)…….otherwise the price travels deeper into the triangle

….awaiting a more acute moment.

Let’s see how this picture evolves.

July 2, 2021

by Rob Zdravevski

rob@karriasset.com.au