(06/12) Crude continues to trade in the rising channel and the trend is up. There are few indications to suggest the uptrend is in trouble.
(06/05) The hold of the support area just above $120 and the subsequent bullish key day reversal today leads us to believe that the correction is over and that Crude may now rally to yet another new all time high.
At least $140 with a possible extension towards $155-160 now looks a danger
(05/29) The rising trend line across the highs comes in at 4138.
(05/22) Very difficult to call tops in moves like this as we have seen. Trend line at $136 and rising is about all we have to offer now.
(05/08) After 5 days of powering higher Crude was virtually unchanged today as it hit rising trend line resistance.
Early days but we will once again go neutral and watch as it is very close to the $125 target
(05/01) Crude will need to rally above $114.25 this week to avoid a bearish weekly reversal off the all time high….as it looks on the ST chart, this is unlikely to happen with the ST double top in place that targets $108.60. A weekly reversal this week off the all time high in Crude will be a serious sign that the market could test $98.65 support. Note also that last week the market posted a bearish weekly reversal off the all time high in EURUSD so together these two
developments add up to suggest a stronger USD going forwards.
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