End OF Month Price Targets within the first week!!

Alright so what happened here.

So basically the Stop limit has been reach on the 05 MAY 2022 for the Target Price of 8.85 USD for the month of June 2022 and w/ref NOV 2006 @ 8.85 USD
for a certain portion of the market participants. This is clearly a bullish indicator that the market is hitting end of the month Price Targets within the first week!!

This can be seen where the following Black line intersect with each other:

Black horizontal line @ 8.85 USD

This is the price in NOV 2006. Do take note for that 8.85 USD in 2006 is equivalent in purchasing power to about 12.62 USD today, an increase of 3.77 USD over 16 years.
The dollar had an average inflation rate of 2.24% per year between 2006 and today, producing a cumulative price increase of 42.61%. So there is a increase in probability that the price will note only increase in nominal terms but real terms too.

Black vertical line Date: 19 MAY 2022

Trading terminates on the 3rd last business day of the month prior to the contract month. Which means the 25 MAY 2022
but market participants that don't want physical delevery of the commodity already get out on the 18 - 20th of the month can also be seen on the month of April 2022 for reference.

Black Diagonal dashed line:

The starting point is based @ 6.80 USD upon the previous contract closing price whcih shows good indication of support since mid April 2022.

In my previous TA I did mention that there is a increase in the probability of the market testing the psychological level of
8 USD for support which was once a level of resistance before the price breakout as indicated by blue vertical line @ 8 USD.

Since the market correction occured on Friday the usual mental heuristics is expected to come into play on
Monday in which the market is expected to decrease by another -2.5% over the course of 3 consecutive days.

The next Price target is 9.80 USD which is the DECEMBER 2000 reference and note this has equivalent in purchasing power to about 16.36 USD today.

Currently my trade setup is as follow:

BEP = 7.80 USD
STOP LOSS = 7.70 USD
PRICE TARGET = 9.80 USD
Chart PatternsTrend Analysis

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