US Oil was identified at around 70.3755 having recently rebounded of the support on the 4 hour data interval. Ultimately, the price action of the stock has formed a Channel Up pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 72.2740 level.
A Channel Up has formed, US Oil is approaching support. Can we expect a breakout and the start of a new trend or a reversal?
