Major trend view for USOILAre we looking at a similar but mirrored bar pattern from 2008 to 2014?
Similarities:-
1. Impulse and steep wave.
2. Consolidation in the format of a triangle.
On the breakout, we had another fall equivalent to 61.8% of the impulse wave. If we are witnessing the same pattern, then on the breakout of this triangle consolidation, we will have the USOIL prices at $135 in the coming years. It shall be by the end of 2028!
PS: This chart is just for analysis purposes. When we know the major trend, we can position our trades carefully.
