Crude Oil: Blast-Off Time Or Heading To $60 Range?

2022.04.14 21:06

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 . See the chart below.

Crude Oil Daily Chart

This looks to be a critical inflection point.

Will prices above the falling trend line of the triangle (ouch for consumers), or will prices Stay tuned!

Source