We may be approaching sizable sell off!
Pick up your choice!
Could be higher before sizable down
Chart explains the next move!
We are looking for $62.15 per BBL target.
The trend is your friend!
Let us see how crude oil develops the next major move!
It looks like a rising wedge on the daily chart of the WTI crude oil.
Crude may just finished a minor second wave correction.
Wave five as shown on the chart might terminate crude oil medium term top. There is possibility for retracement back to
45.75 then making a new high at 46.8/47 area. before falling.
A clear break and sustain trading above 45.5 may take crude oil to as high as $50 before sharply down.
Possible crude oil next move
Natural gas on the way for the last push down before major recovery.
This chart could provide short term direction for the crude oil price.
May I suggest for all you guys to have a look at this WTI crude oil daily chart.
To me it suggests a pullback to 41/42 area then rally to 48/49 area.