Oil made the expected Higher High on the 1D Channel Up (RSI = 56.507, MACD = 0.750, Highs/Lows = 0.1029, as forecasted on the buy call below:
At the moment the 4H RSI has reached the 1-month peak and is consolidating, a sign that normally indicates the start of a pull back within the Channel Up in order to price a Higher Low. If the 4H MA50 breaks (so far held once on Friday), we are expecting a full retrace to the Buy Zone within the Higher Low and MA200. Our Target Zone then will be 59.80 - 60.90.