US CRUDE OIL Chart Technical Outlook continues to extend towards $78.90
US crude oil is posting higher highs and higher lows. There are three indications further upside pressure could be limited:
- We have a 78.6% pullback level located at $78.83. This is a common barrier for various cypher formations.
- Bespoke resistance is located at $78.90.
- The flag target is located at $78.99
Conclusion: although there is no clear indication of an immediate change of trend, I I will look for reversal formations within the $78.83 – $78.99 zone
