Oil just passed through the ichimoku cloud and is showing a pennant continuation pattern. If we weren't in a global usage decline that started before the pandemic I'd say there are plenty of reasons to wait and see, but this makes it look like we're all wearing the blue dress.
Note
Amazing how almost literally pennant continuation I buy into that's supposed to be bullish has turned bearish and vice versa. Don't expect the markets to do anything that makes any sense anymore. Demand is in the drink and still it goes up.Note
This shit doesn't make a damn bit of sense
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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.