Johnkiew
Long

Oil - Room for Upside

NYMEX:CL1!   Light Crude Oil Futures
There are several projection for current oil swing.

On the left daily chart , two projections:

First projection start from 2016 when price hit bottom 26.05 seen projection at 51.17 (reached at Jun 2016), 66.69 (reached at Jan 2018) & the next target at 91.81. This is long term projection as in daily chart stated as "Next Target 1"

Second projection start from 2017 Jun 42.05, price immediately move towards impulsive swing and reached 64.37. Oil hovering above this price level for almost 7 months and rally continue in recent weeks. From this projection, the next target at 78.17 "Next Target 2". This could be achievable in the short term.
Oct 17
Comment: Price in short term correction, refer to the latest post. However the long term trend remain bullish.
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