Crude oil futures have been in a parallel uptrend since June 28th. On August 5th, Crude Oil futures tested the double top from April 13th, but were unable to break through. This is a bullish sign, as it suggests that buyers are still in control of the market. Now, we are waiting for a period of bullish consolidation before a breakout to the upside.
The next resistance level to watch is the $90 per barrel mark. If crude oil futures can break through this level, it could open the door to further gains.
Overall, the outlook for crude oil futures is bullish. The current uptrend is still intact, and buyers are still in control of the market. A breakout to the upside is likely in the near future.
The next resistance level to watch is the $90 per barrel mark. If crude oil futures can break through this level, it could open the door to further gains.
Overall, the outlook for crude oil futures is bullish. The current uptrend is still intact, and buyers are still in control of the market. A breakout to the upside is likely in the near future.