Oil is getting expensive...
Just a technical signal:
WTI Crude Oil has resolved the bullish flag pattern and is heading now North (or North-East ;) ). In the mid-and long-term, I've got my doubts that we will reach the ATH in Crude Oil because of the bad fundamentals for oil but until 76.50-77.00 USD there is enough space for now...
WTI Crude Oil has resolved the bullish flag pattern and is heading now North (or North-East ;) ). In the mid-and long-term, I've got my doubts that we will reach the ATH in Crude Oil because of the bad fundamentals for oil but until 76.50-77.00 USD there is enough space for now...
Note
The recent high from July at 76-77 USD could stop the oil price in the short term from rising but other than a little bit of consolidation and perhaps a short correction I don't expect much more. So we could challenge the 3-figure price range in Q4 of this year.Note
Former high broken. Very bullish. Let's challenge the 3-figures in oil!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.