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Crude Oil giving a heads up onto a massive breakout
I have not seen such bullish candlestick patterns for a very long time now...
The weekly chart had an amazing weekly candle where it is a T type doji, with indications of massive upward momentum, pushing with upward pressure. This comes in tow with two or three previous long tail pattern, and the weekly close is highest in the past 6 weeks. Weekly MACD appear to be turning up again, although not yet crossed over.
The Daily chart shows how the week developed, with a mid-week bullish engulfing, and a follow through to the end of the week, with a solid bullish marubozu. Just plain bullish indications, if you ask me. Technicals are again turning upwards, supporting the upward march.
Simple projections bring Crude to USD124 at the very least, by end May 2022.
And... this is just the beginning.
Fair warning given previously... now, it is looking that previous expectations are panning out.
The weekly chart had an amazing weekly candle where it is a T type doji, with indications of massive upward momentum, pushing with upward pressure. This comes in tow with two or three previous long tail pattern, and the weekly close is highest in the past 6 weeks. Weekly MACD appear to be turning up again, although not yet crossed over.
The Daily chart shows how the week developed, with a mid-week bullish engulfing, and a follow through to the end of the week, with a solid bullish marubozu. Just plain bullish indications, if you ask me. Technicals are again turning upwards, supporting the upward march.
Simple projections bring Crude to USD124 at the very least, by end May 2022.
And... this is just the beginning.
Fair warning given previously... now, it is looking that previous expectations are panning out.
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