WTI crude oil is breaking above a complex inverted head and shoulders pattern to signal that a reversal from the downtrend is gaining traction. This could spur a climb that’s around the same height as the chart formation. The 100 SMA is above the longer-term 200 SMA to indicate that the path of least resistance is to the upside. In other words, the uptrend is more likely to gain traction than to reverse. The reversal pattern spans $51 per barrel to around $60 per barrel, so the climb could last by this amount. RSI is already in the overbought region, however, indicating that buyers are already exhausted and might be ... (full story)