The US oil started its recovery mid April all the way from the price of 12 up to 42 today
The wave up is was strong by lost momentum and barely moved up during July.
This indicates that the price of oil has found a solid footing. Which means now that a breakout might happen soon.
IF price goes above 43 it would stop until 50 and probably go towards 66 later in the month or September.
for now... its a BUY Setup .. Breakout in to wave 5
The wave up is was strong by lost momentum and barely moved up during July.
This indicates that the price of oil has found a solid footing. Which means now that a breakout might happen soon.
IF price goes above 43 it would stop until 50 and probably go towards 66 later in the month or September.
for now... its a BUY Setup .. Breakout in to wave 5