Crude oil has broken out from a multi-year logarithmic descending channel.
Following the start of the Ukraine war, and the breakout in oil price it has since tested the upper channel resistance line, confirmed now as support.
More recently the crude oil price has broken out of its short term descending resistance line and appears to have created a short term bottom.
By 2025 I would expect us to get back up to $115/barrel after the fed loses control of inflation.
Following the start of the Ukraine war, and the breakout in oil price it has since tested the upper channel resistance line, confirmed now as support.
More recently the crude oil price has broken out of its short term descending resistance line and appears to have created a short term bottom.
By 2025 I would expect us to get back up to $115/barrel after the fed loses control of inflation.
