WTI Crude Oil has staged a dramatic bullish breakout from a multi-year falling wedge pattern. This surge included a significant opening gap, signaling intense buying pressure as price action bypassed previous resistance levels. Currently trading around $113.83, the market is rapidly approaching a historical supply zone near the $120.00 mark, where previous rallies stalled in 2022.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.