Surely the bombings in Syria will have some effect on the opening, 75 looks not too close, but what resistances can we reach in the near future?
4 Hours chart
Why Oil Prices Just Rallied To $70
Days of supply : 25.4
Inventories & more:
Big picture (MONTHS)
CL1! chart (months)
After overcoming the ichimoku cloud, now it stops at 38.2% fibonacci... for a while
I do not think the (now historic) bombing of Syrian chemical mfg facilities will have any effect.
Most of the expectancy was priced into last weeks movements ... perhaps we might see $68 before reversal, but I don't see much more.
This idea is also supported in your citing above "Price just rallied to $70" ... "One of the immediate factors helping to lift Brent above $70 was Trump’s Monday promise to respond “forcefully” to the suspected chemical attack in Syria."
Also May futures roll this week. June Volume has contracted significantly down 216k contracts while OI only increased by less than half that. I believe Longs are liquidating (contract supply pressure := price pressure) and moving to forward months (June and Dec).
If you are trading CFD's, I believe that to be some form of hybrid, continuous contract, and neither reflective of futures nor cash (including OI) markets.
So, while I respect your opinion and your effort in this review, I don't think we see $75 (up > 10%) in the short term, unless there is another Event.
... just my 2c worth