Crude Oil Medium Term

18 May 2018

My previous analysis for long crude at 65.74 for a target to 72.95, just hit 72.25, but still my stance is the same, price action remains bullish with succession of highs and lows and still within multi-months bullish channel, so far it is testing the top of the monthly channel, but still longer term momentum indicators suggesting scope for crude to visit higher levels. I have close eyes on this market, personally will try to build medium term positions on pullbacks. Anyway lets see how market moves on...