Fundamentals and trading patterns show US oil is headed higher

by Dramelin 12:00 AM 0 comments

I started by asking you to pick one of the four price targets.
The charts show none of these numbers are consistent with trading band analysis.
The next upside target is $76.
This is calculated by taking the width of the trading band and projecting it upwards.
This analysis method uses the repeated historical behavior of the oil price.
We use the ANTSYSS trade method to extract good returns from this trend breakout and the rally rebounds.
Any pullback and successful retest of the trendline support value near $58 is a buying opportunity on the long side for the continuation of the long-term uptrend.
Daryl Guppy is a trader and author of Trend Trading, The 36 Strategies of the Chinese for Financial Traders, which can be found at www.
He is a regular guest on CNBC Asia Squawk Box.
He is a speaker at trading conferences in China, Asia, Australia and Europe.
He is a special consultant to AxiCorp.
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