|"Three White Soldiers" candle pattern|
If that's the case, we may see Oil continue to the next major resistance level around $54.00-55.00 (confluence of the 200 MA on the Daily chart and the Mid-Bollinger Band & upper Channel on the Weekly chart) before, either consolidating, or reversing; otherwise, a reversal here could send it down to around $45.00 or $42.50, or lower.
|WTIC Crude Oil 9 Months Daily Chart|
|WTIC Crude Oil 5 Years Daily Chart|
|Crude Oil Weekly Chart|