WTI Oil: Dec-February fractal shows mid term potential for $74.

2019年7月11日

Oil is replicating the December-February price action when the price again bottomed aggressively after an earlier market peak and then started rising gradually to the annual High. Common parameter is the Golden Cross on the 4H chart. We can assume that as long as the MA200 holds, the uptrend will be sustained. 1D is actually on strong bullish levels (RSI = 63.049) and 1W is about to break through its neutral barrier (RSI = 54.302, MACD = -0.860, Highs/Lows = 0.0000) into a medium term bullish trend towards $74.00.