Crude Oil Resuming the Uptrend

Crude oil has found support at the 33.8 level, after a completed three-wave corrective move in 2)/B), and started recovering impulsively. Price broke above the upper corrective channel line, which is another evidence that energy is resuming the uptrend and unfolding a higher degree wave 3)/C) with a five-wave move. That said, be aware of temporary pullbacks: sub-wave 2 can be next, with support at the upper broken corrective channel line.

Crude oil, daily