Crude oil is at a long term support near 72 and may bounce from here. It may remain in up trend for 1-3 months. The weekly chart has been forming a wedge.
Note
Crude tested exactly near the support line at around 70.5 and is now near 74. Time to book profit. Longer trend is still up and we may buy on dip again. Wait for next post.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.