Bullish Crude Oil

NYMEX:CL1!   Light Crude Oil Futures
Crude Oil             is signaling a possible reversal. We have a falling wedge , a 5-wave             pattern and bullish indicators (with weekly divergence). Therefore everything is signaling an uptrend. The only problem is that we have a lot of resistances overhead, which might make the uptrend either choppy or unsuccesful. However, everything in the chart is screaming "UP"

Weekly chart with RSI/MACD divergence
I think it trades sideways and probably drops some more before heading up. I don't think we have seen the bottom yet. Market still flooded. Iran only just started shipping. Nobody really cutting yet.
Mikkelfo johnmknox
Yah longterm I'm not convinced of the bulls, but this formation SHOULD at the very least, result in short-term bullish movement
Mikkelfo Mikkelfo
I'm not convinced (YET)*
If above 33 then possible target 37.49-43.72. So i feel you prediction may go right. Double bottom breakout above 33 if sustains possible.
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