Despite concerns around refinery closures and inventory builds post Hurricanes Harvey and Irma, WTI Oil has traded constructively and, in our view, has the potential to reach $60+ as we head into the end of the year…
WTI Crude has broken through the trend line across the 2017 highs and this overall setup can be viewed as a triangle consolidation before the prevailing trend higher resumes. In fact, the break higher suggests just that (see chart below).
also:
DANGER: Major Warning Indicator Hits All-Time High While A 2nd Plunges To All-Time Record Low!
