New Highs or Oil??

2022年2月2日

Oil is tending toward the upper bound of the range between 87.21 and 88.74. We are definitely seeing an affinity toward higher levels and a bull wedge type pattern forming. We have strong support from below as confirmed by green triangles on the KRI. It does appear that oil is mounting up for a breakout soon, in which case, our next target is 90.06. If we reject the upper bound at 88.74, then we should have support from 87.21, then 85.55.