Taking into account the price action specially in the daily timeframe that an inverse head and shoulders pattern are visible and the strong weekly support and taking into account the escalation of conflicts and war in the middle east, it's non of a surprise to see a 120$ oil price in a matter of some weeks or months.
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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.