Crude Oil: Blast-Off Time Or Heading To $60 Range?
Chris Kimble | Apr 14, 2022 01:47PM ET
Inflation concerns turned into nightmares for some over the past several weeks as crude oil prices rocketed higher on the heels of overseas tensions, war, and sanctions.
Pain at the pump has now become a reality as consumers fill their cars. This is on top of rising food prices.
Could there be some relief coming soon to the gas pump?
Well, that depends on how crude oil prices move in/out of today’s important trading triangle. See the chart below.
This looks to be a critical inflection point.
Will prices break out and blast off above the falling trend line of the triangle (ouch for consumers), or will prices break down lower and see the potential of a measured move? Stay tuned!
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