Oil looks to go much higher if it can break out of what appears to be an inverse H&S neckline. Bullish case +1 because of successful tap and pop off channel resistance line (now support).
Note
Daily Chart UpdateWeekly Chart Update
Price would have a much stronger case to go higher if it performs a throwback to the resistance neckline.
Note
Price fell in - should keep going til weekly resistance is retested.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.