Here is my current long term view of crude oil. I favor something similar to my long term view of gold: a spread out consolidation. Although we are in a short term up trend we will have to see if the intermediate down channel will be broken. A couple of possibilities are drawn. But I think it is likely we will at least reach the down channel upper line (around 42-43).
Have a great week trading ahead.
Have a great week trading ahead.
