$100 a barrel coming soon for Crude oil futures In this video we focus on the current accumulation in the oil chart and the prospect of higher prices ahead .
I highlight how the respect of the previous quinquennial pivots gave us a 45% move to the upside in the past 8 weeks .
Looking ahead on the monthly timeframe we have the following confluences above the current price of $75 .
Above the current pa we have the point of control at $ 88 and the avwap at $97, if we can reclaim the poc I think we will continue to push up to the fib levels that I have mentioned in the video.
In addition to the above we also have the decennial pivots at $107/$112 alongside the value area high .
All of this validates for me why oil will be pushing back up throughout the course of the year .
Tools used in the video
Tr pocket , pivots , fived range volume profile and fib expansion
