I see oil heading higher in the coming weeks. As long as 46.50 support is holding. Targeting the top of the range near 55 resistance.
I have posted several charts on the positive correlation between oil and copper in the past. In recent weeks, copper has been significantly outperforming oil, where i expect this divergence to narrow again and the two to converge.
Best
Technician
I have posted several charts on the positive correlation between oil and copper in the past. In recent weeks, copper has been significantly outperforming oil, where i expect this divergence to narrow again and the two to converge.
Best
Technician