As things stand right now, the crudeoil market looks as if it will continue to be bought every time it dips significantly.
Enter your emailAs things stand right now, this market looks as if it will continue to be bought every time it dips significantly.
The market had broken below the top of the previous ascending triangle but has found enough buyers in that area to turn things around. In fact, it looks as if the market is going to continue to climb from here and perhaps go to the $120 level in the short term.If we can break above the $120 level, then it’s likely that we will see this market attempt to get back to the $124 level, and further.
That being said, the market is likely to continue going much higher, reaching the $130 level initially, perhaps even $135 over the next several months.
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