Oil has broken through its consolidation pattern last night. Expected to retrace to drawn support line (possibily slighly lower depending on the selling pressure). The general trend is bullish, confirmed by Bull Divergence prior to breaking the consolidation pattern. Also, 3D major chart is showing a HIDDEN bullish divergence since the beginning of this week.
I believe oil has gone through its Omicron fear phase and is now in demand.
Good luck with your trade!
I believe oil has gone through its Omicron fear phase and is now in demand.
Good luck with your trade!