OIL BROKE! UPDATE

As expected the long-term channel broke. Twice I posted the setup prior but never broke.
This time it has. great setup from a risk-reward standpoint.

Again as mentioned in earlier posts.

"Do not fall victim to this Texas Oil Crisis. Oil moves for two main reasons.

1. Global Demand
2. A significant drop or rise in $.

Commodities are on the rise without a doubt and the dollar has been weak.
Global demand is not there. Using Jan 2020 as a benchmark, $60 is overpriced.

Don't waste your time with EIA reports, OPEC, blah, blah."