Technically, crude oil is respecting the bullish structure of the last rally, and the figure is a continuation triangle.
As long as the price respects the structure, we can expect the price to break out of the triangle to see further extensions.
The energy environment is complex today, probably the US wants to be the main energy supplier for Europe, if this happens, the valuation of crude oil would be around 150 dollars per barrel.
As long as the price respects the structure, we can expect the price to break out of the triangle to see further extensions.
The energy environment is complex today, probably the US wants to be the main energy supplier for Europe, if this happens, the valuation of crude oil would be around 150 dollars per barrel.
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