Oil update: explosive rally increasingly likely

Описание: In this update, Clive Maund reviews the latest technical developments in the oil market and explains why the case for a major advance has strengthened significantly over the past few weeks.

The analysis compares the charts presented in the early July update with current market action, showing how Brent Crude and the U.S. Oil Fund (USO) have behaved almost exactly as anticipated. After successfully rebounding from major support, momentum has turned decisively higher, moving averages remain in bullish alignment, and several powerful technical patterns are now taking shape.

Topics covered include:

Brent Crude 2-year and 6-month charts
USO 2-year and 6-month charts
Why the early July buying opportunity worked
The developing Head-and-Shoulders bottom
Momentum and MACD improving sharply
Accumulation/Distribution remaining strongly bullish
Key resistance and support levels to watch
Why an explosive upside breakout is becoming increasingly likely

Clive also discusses the fundamental backdrop, including tightening oil inventories, ongoing supply constraints, and geopolitical developments that continue to support a bullish outlook for crude oil.

For investors and traders following the energy sector, this video explains why the current setup could precede one of the strongest advances of the year.

Read more market analysis at https://www.clivemaund.com

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