Oil yet to pierce the long term down trend resistance from all the way back to July 08/May 11/Now.
Previous Qtr action shows a bull flag formation, coupled with a retest of that flag top. The chart shows three potential targets based on ranges. With the most probable being upwards. This is supported by Moving Average setup (Short term break above the LT averages, with price retesting it for support) and coincides with the US/Iran developments currently underway.
I still view that the Market is in general the Inverse to price of oil when > $100.
Oil yet to pierce the long term down trend resistance from all...
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