Price rallied aggressively and jumped much above the median line (ML) of the major ascending pitchfork, signaling that is strongly bullish. Has broken above the 150% Fibonacci line (descending dotted line) and above the upside line (uml) of the up channel. A retest of the broken levels will signal a further increase in the upcoming period.
Brent is almost to hit the $58.00 per barrel, it wasn’t reached since July 2015, so the price could touch new peaks in the upcoming period.
