$USOIL has given us further clues with the recent developments. After the futures
expiration, we had a big drop, but bulls supported the price before hitting levels that would put the rally in danger in the short term. We now have an active uptrend in the daily, and the end of a short term daily downtrend today, which indicates to me that we will see immediate upside in oil
. If you for some reason aren't long, you can definitely join longs here, or on slight dips, and aim for the targets on chart, at least. This might end fulfilling a monthly uptrend signal, which could propel oil
to the upper 60s, to even $100+-5 as an extreme target.
Check out my previous publications, I have been moderately on point, capturing the extremes of the range, and I think now we might be able to catch the next trending leg, let's wait and see.