OIL - Bullish Bias

Current daily candle is breaking above the weekly range resistance and looks to test the ascending resistance (in yellow)
The $50/barrel level seems well supported and the recovery looks promising. For this reason, I believe oil should remain bullish and could test the highs of around $65 for the next level of resistance. This is a weekly chart so my forecast to reach $65 will be 1.5 - to - 2 months down the road for swing trading. Intra-day expect some minor ups and downs but overall it should remain bullish.

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Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc.

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