Crude Oil has now regained all the break points seen from $50 all the way down towards $36.50 and looks set for further gains towards mid to high 60’s target.
• Further support for this view comes from the fact that monthly momentum is starting to turn up from levels that in the past have yielded strong rallies.
o If we replicated the lowest percentage of these 5 rallies that would give us a price of about $63
o If we replicated the highest percentage of these 5 rallies that would give us a price of about $118
o If we replicated the average percentage of these 5 rallies that would give us a price of about $80
Crude Oil
Linear Mode
