This chart provides an overview of the situation; there is a symmetrical triangle (highlighted in black) sitting within a giant drifting rectangle (highlighted in green).
To view the possible breakout, please click here now. FOMC minutes are scheduled to be released on Wednesday. While that report could create some significant price volatility, there’s no question that this morning’s technical breakout is a very bullish event.
The price of oil is rising in a near-perfect uptrend. Please click here now. Short-term traders can add to positions around the green horizontal lines on the chart.