Here’s Why Crude Oil Prices May Be Headed To $69

Guy Cerundolo

Crude oil is trading at 6-month highs today on news that the U.S. will end Iran sanction waivers.

This news has WTI Crude Oil attempting to breakout of its recent consolidation.

The move higher has also put Crude Oil above our MFU-4 level of $64.

This opens up the possibility of rallying to our next target of $69.

The near-term trend continues to be bullish.

We noted in a recent research article that April tends to kick off the start of a positive 3-month period for energy stocks as measured by OIH.

Crude Oil Chart

crude oil price target higher upside analysis april year 2019

Author may have positions in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.