Technically, crude oil is respecting the bullish structure of the last rally, and the figure is a continuation triangle.
As long as the price respects the structure, we can expect the price to break out of the triangle to see further extensions.
The energy environment is complex today, probably the US wants to be the main energy supplier for Europe, if this happens, the valuation of crude oil would be around 150 dollars per barrel.
As long as the price respects the structure, we can expect the price to break out of the triangle to see further extensions.
The energy environment is complex today, probably the US wants to be the main energy supplier for Europe, if this happens, the valuation of crude oil would be around 150 dollars per barrel.
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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.