It has been weeks (maybe months) since Crude had yet to commit to an up move (clearly) although it gave early indication of the imminent move.
This past week was volatile and eventually closed the week relatively bullish. The weekly MACD crossed up and appears set to continue the momentum, slowly but surely.
The daily chart shows an invasion into a gap area, forming a resistance. The week closed near the top of the range, but has not yet decisively cleared the resistance. Technicals are supportive of a breakout.
Upside targets are maintained, but time adjusted for another 3-6 weeks buffer.
This past week was volatile and eventually closed the week relatively bullish. The weekly MACD crossed up and appears set to continue the momentum, slowly but surely.
The daily chart shows an invasion into a gap area, forming a resistance. The week closed near the top of the range, but has not yet decisively cleared the resistance. Technicals are supportive of a breakout.
Upside targets are maintained, but time adjusted for another 3-6 weeks buffer.
Related Ideas
Crude pauses
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