US OIL
Added 2024-08-12 19:31:24 +0000 UTCIt is getting very tight in this wedge now as we await to see of Iran will counter again on Israels actions in the region.
Price is just sitting on the 50 and 200 Day MA now at the top line of the wedge.
An escalation in the middle east should in theory cause Oil to rise but we have experienced a lot of conflict in the region and in Ukraine/Russia this year and the price has been relatively flat and contained in this wedge.....a breakout and hold above $80 and this could run.
$OXY and $HAL would likely benefit from this.
