Crude at a Major Pivot Point
Crude Oil has reached a major pivot point of its move lower that started last year in March and we are about to find out if the trend higher will be restored or if we will remain in corrective mode. On Friday we closed right at the descending channel's T/L resistance at $80.
Furthermore, potentially at the same level, we have the neckline of an inverted H&S formation which if broken targets a move to $90. To recap, a break higher points to a low already found at $70.50 and points to a move to $90 but until that happens don't forget that the trend is your friend.
Which stock should you buy in your very next trade?
With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities.
In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record.
With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.
