Crude Oil Stuck In A Range, Forming Contracting Triangle!

12 thg 3, 2023

Crude oil price has been moving between 70 & 83 since Nov. 2022. In the process forming contracting (or symmetrical) triangle. A strong bullish close above the upper descending line will make crude oil price to be bullish while a close below the lower descending line will invite more bears for oil.

With price hovering currently on strong support level, oil most likely will break above the symmetrical upper line...


N.B!
- USOIL price might not follow drawn lines . Actual price movement may likely differ from the forecast.
- Let emotions and sentiments work for you
- ALWAYS Use Proper Risk Management In Your Trades

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