Crude Oil - Weekly Take

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Replacing the A-point of the fork to April 10 resulted in a less steep angle for the fork. It is good to see that the centerline was reached. However, for the week ahead I see a slightly bullish case; The Centerline is a potential target - again.

Bull Case

  • The small support zone holds
  • We see a full bar above the 1/4 line
  • Daily progressive price increase with only minor pullbacks


Bear Case
  • The small support zone breaks with a full bar
  • Subsequent days with lower lows and lower highs
  • Next support is the L-MLH


Base Case
  • No movement, no momentum "tweets"

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