Oil is breaking above the 69 with a confirmation
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Oil is breaking above the long-term resistance horizontal and falling trend line as well 69 and it has recently confirmed this breakout. We need could expect a continuation to 92 which is the 38.2% Fibonacci retracement of 2008-2020 swings down.
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On the weekly chart, we can see that Oil has with significant strength broken above the 69 main resistance and is supported by the uptrend line strong 66 level. Now only a break below the 62 will lead to an invalidation of this swing upside.
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On a daily chart, we can see an ascending triangle Already a member? This article is so good, it’s for premium members only.
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