On the 3 hour timeframe, crude oil has formed an ascending triangle pattern which is signaling the buying behavior of traders. The pattern is extending a strong support near $65.50 along with a resistance at $66.5. Historically, the ascending triangle pattern breaks upward, therefore, the violation of $66.45 is likely to lead the crude oil prices towards $67.40 and $68. Keep following for more updates...
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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.