Volume Profile - Some key POC's on daily chart from 2018
Looking back to the 2018 high, this chart shows some of the more interesting POCs from Volume Profile (fixed profile on daily chart across a monthly boundary) and when they were closed. This month (February 2021), WTI closed out one from June 2020 at 58.4x. This past week, it decisively broke through this POC as price did with the one from February 2020 this past January. The next key POC that has yet to be closed is from October 2018 at 74.7x. My view is that price continues up until it hits the October 2018 POC at 74.7x at which time there will be first major correction in current upswing.
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