With this trend, is crude oil really not going to break above 101?
I don't even need to say it. The long position I told everyone to open in crude oil at $99 will definitely hit take-profit at $103. If crude oil doesn't hit take-profit in this trend, I'll write the name Liu Sanpao upside down.
The 4-hour chart clearly shows a bullish alignment.
All three moving averages are turning upward, and the price is steadily climbing along them.
The real resistance is around the previous high of 106.98. At 103, we're right in the middle of the rally, and the current geopolitical risk premium is more than enough to push prices there.
Oil still has geopolitical risk premiums supporting it. The U.S. military is evacuating personnel and sending in more warships, keeping a close watch; Houthi militants are carrying out attacks near Saudi Arabia; and Iran is acting as the gatekeeper in the Strait of Hormuz. Every step is adding fuel to crude oil's rally. It's bound to rise.
My plan hasn't changed: close the crude oil longs at 103, go short, then we'll all go long on Bitcoin.
I don't even need to say it. The long position I told everyone to open in crude oil at $99 will definitely hit take-profit at $103. If crude oil doesn't hit take-profit in this trend, I'll write the name Liu Sanpao upside down.
The 4-hour chart clearly shows a bullish alignment.
All three moving averages are turning upward, and the price is steadily climbing along them.
The real resistance is around the previous high of 106.98. At 103, we're right in the middle of the rally, and the current geopolitical risk premium is more than enough to push prices there.
Oil still has geopolitical risk premiums supporting it. The U.S. military is evacuating personnel and sending in more warships, keeping a close watch; Houthi militants are carrying out attacks near Saudi Arabia; and Iran is acting as the gatekeeper in the Strait of Hormuz. Every step is adding fuel to crude oil's rally. It's bound to rise.
My plan hasn't changed: close the crude oil longs at 103, go short, then we'll all go long on Bitcoin.