After a steep pullback, crude oil prices have reversed higher. I highlighted this bullish reversal in a research note here on See It Market last week.
With WTI Crude Oil getting close to our price target of $115.20, I wanted to provide an update with current thoughts.
Given the buildup in momentum, I think price will barely pause (if at all) at the MFU-4 target and head to the MFU-5 level of $127. I am still bullish on crude oil and energy stocks. In the article linked above, I shared our systems potential price target of $150 for XOP.
Crude Oil Chart
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