WTI crude oil surges sharply as Russia started invading Ukraine, and it’s now above 100 handle. For the near term, outlook will stay bullish as long as 95.98 resistance turned support holds. Next target is 61.8% projection of 66.46 to 95.98 from 89.23 at 107.43.
Note that 4 hour MACD clearly indicates that it’s in upside acceleration. Firm break of 107.43 could prompt further acceleration to 100% projection at 118.75.
