CRUDE OIL, Paramount Breakouts + Growing Demand Means Bullish!

Hello,

Welcome to this analysis about WTI CRUDE OIL and the monthly timeframe perspectives. Since the Russia-Ukraine-Conflict began we can see many countries upfront with the E.U. sanctioning Russia and preventing Oil exports out of Russia, cutting off all supply chains including oil. These developments mean there is a growing demand for oil and gas on the world market because Russia normally holds 12% of the whole world's oil and gas exports and therefore countries need to move to other sources of oil and gas and as countries, especially in the E.U. have normally almost 40% of their oil and gas imported from Russia there is also a falling supply combined with growing demand on the world market showing the fuel for the steep rising in prices we have seen so far in the recent times. In my chart, you can watch how WTI CRUDE OIL already completed this massive descending-triangle-formation, and now recently with these developments also moved with heavy volatility above the major 10-Year-Resistance marking in my chart. All these developments point to a continuation of the bullish volatility that was established over the recent days, also the main descending-triangle-target-zone marked in my chart has an increased likelihood to be reached with the current dynamics.

In this manner, thank you for watching the analysis, all the best!

Information provided is only educational and should not be used to take action in the markets.