WTI OIL Channel Up aiming at the 1D MA50.

WTI Oil (USOIL) transitioned from the Inverse Head and Shoulders (IH&S) pattern we described last week to a Channel Up:

Our target remains 74.50 on the medium-term which makes both a Higher High on the Channel Up while filling a 2.0 Fibonacci extension, which is the technical target for the IH&S.

Tradingview link:

https://www.tradingview.com/chart/USOIL/Fdx7w1Ns-WTI-OIL-Channel-Up-aiming-at-the-1D-MA50