Hi traders, we have a potential bullish setup brewing on the 117 support level. We've had some past support at this level and if we are able to wait for the 8 hr candlestick to close above 117, we could see a potential bullish move towards the 124 level. Be patient.
Here we go again! Crude oil's super mega uptrend looks to continue! Last time we saw a trend like this was 2009, and it's a long time coming after the major declines in 2014.
Quick summary why I'm bullish in the next weeks:
1. Overall bullish trend
2. Consolidate and form a higher low
3. Failed breakout lower, breakout higher
My next target is 75.50, and if we...