After breaking out of price consolidation (yellow rectangle) it’s crucial that the bulls keep oil above this price point and move to the apex depicted in the chart. A break of the inner upward Trend line will see oil back into the consolidation point so its imperative that the Bulls keep at these levels or above. A Rise to 32 (R1) will see some bears to contend with. This P action will show strength and solidify the second point to maybe see a parallel channel upward form/ing.
📈Support & Resistance📉* Support Levels 1st Support Zone: 23.41 2nd Support Zone: 17.80 3rd Support Zone: 12.94
Price Level Consideration ATH: 147.27 All Time High Half Way Point: 73.64 Prominent High: 65.53 Prominent Low: ZERO 🐃 Bulls Verse Bears 🐻 🐃 Bullish above: 77.04 🐻 Bearish below: BEARISH at the moment