New Highs or Oil??

2. Feb. 2022

Oil is tending toward the upper bound of the range between 87.21 and 88.74. We are definitely seeing an affinity toward higher levels and a bull wedge type pattern forming. We have strong support from below as confirmed by green triangles on the KRI. It does appear that oil is mounting up for a breakout soon, in which case, our next target is 90.06. If we reject the upper bound at 88.74, then we should have support from 87.21, then 85.55.