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We have a Breakout on Crude Oil

Light Crude Oil Futures (NYMEX:CL1!)  
ThinkingAntsOk  
NYMEX:CL1!   Light Crude Oil Futures
Trend Analysis Support and Resistance Multiple Time Frame Analysis crude Crude Oil WTI wticrude Commodities
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trendanalysis supportandresistance mtfa crude crudeoil wti wticrude commodities
Main items we can see on the chart:

a) The price has been ranging on compression for a long time

b) After that we observed a corrective structure being formed above that compression

c) Last week we were waiting for a breakout of the corrective structure to confirm a new bullish movement

d) Now we have the breakout and we expect a continuation of the bullish movement towards the next resistance zone
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