I think that this can go a lot higher IF the idea follows through.
Placed the entry where the support lines cross. - Look at the support line from the low of the year and see where the price came down to test it... Then look at the support line of the down trending channel to the right.
Where do they cross? "The X marks the spot"
If this idea works out i'll go long Oil ETF's... USO is one to consider because the price action/chart is identical.
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Seems like "The X Marks the Spot" was an timing indicator. Craaay