Crude Oil Bullish
Updated
After the big rally in oil price back in May price found a balance in the range of 81 to 76 forming a expanding wedge. A break to the downside retraced and went up to not only test the top of the wedge but also began consolidation here. Price has been making HH and HL since the start of June. Next magnetic level before sellers may come in is 84.
Note
After breaking out of the top of the expanding wedge and retesting the break price could continue to stair step higher. Next key level 85
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.