The black gold has been recovering slowly but steadily. After breaking the strong psychical level at the 64 handle, it recorded a fresh higher high at 65.44.
Price action has recently retested the broken level, in confluence with Fib golden level 618. It might signal an uptrend continuation. Fundamentally speaking, the bulls dove in after reports of gasoline demand hitting pre-pandemic levels, signaling strength and revitalization from global consumption.
Confluence signals:
Breakout of resistance level Retest of broken level End of correction at Fib golden level MACD turning up, potential cross RSI at no men land
Please keep in mind that nobody can predict the future, but odds play clearly on the bulls' field. -- *** If you like the idea, please don't be shy and click on the like button; also, comments are very welcome. | Thanks for your support!!! ***