ThinkingAntsOk

Clear correction on Crude Oil by ThinkingAntsOk

NYMEX:CL1!   Light Crude Oil Futures
Main items we can see on the chart:

a) The price has been comprising for almost a month (yellow lines)

b) After the compression, we saw an initial breakout

c) Currently, we have a clear correction above the previous correction

d) From a technical perspective, we are observing a flag pattern (white channel)

e) If the white channel ( flag pattern ) is broken, we should expect a bullish movement towards the next resistance zone

f) The next resistance zone is 48.00 - 50.00
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