As you can see Crude Oil as completed it's impulsive correction and has began heading towards breaking out of the patterns drawn which have been accumulating since June.
It has also found itself above a resistance level from Oct 21' which looks to be holding like support.
It's also just below it's daily 100 EMA which if tackled would help this case.
Ultimately I believe Oil will reach 149 this year.
Potential recession is just another smoke screen, don't always listen to the news and try to focus on just the charts.
It has also found itself above a resistance level from Oct 21' which looks to be holding like support.
It's also just below it's daily 100 EMA which if tackled would help this case.
Ultimately I believe Oil will reach 149 this year.
Potential recession is just another smoke screen, don't always listen to the news and try to focus on just the charts.
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