I am not going to over analyze this. Just a little possibility that the pitch fan indicates.
As long as the median provides Support (which was converted from a Resistance on the previous bullish leg) the 70.00 medium term target is possible. These indicators show that under those circumstances another +11% bullish sequence is certainly possible.
I know it may...
We all know WTI oil is bullish. It has been so since the violent bottom last December. The question is where it is better to buy?
1. The former Higher High Resistance (red line) has become a Support and the 1D Channel Up breaks aggressively upwards. So far it has provided support twice.
2. The 1D Channel Up pulls back and makes a Higher Low near...