Technician

WTI Crude near term rangebound, brewing for a breakout

FX:USOIL   Crude Oil (WTI)
166 4 2
Watch for a breakout of consolidation pattern, a break above 95.35 would be first positive sign, a confirmation through breaking the multi-month descending channel would target the 200-days SMA at 98.60 area.
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I agree about the sideways, but RSI is telling me that we may see another LL ( Lower LOW)! I have been selling this since 104. It has been a nice ride. :-) I am looking to see 91.92 area, but being Friday today, you never know what may happen! Thanks for this great chart.
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your welcome, good luck
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Excellent and timely observation. Big thank you ! Michael
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your welcome
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