USOIL Chart Squeezed in a Wedge Pattern: Which Way Will It Break?

When an asset gets squeezed into a wedge pattern, it typically leads to a significant move once it breaks out. So, which way will US Oil break? While no one can say for sure, technical indicators suggest an upward breakout, whereas fundamental factors, such as a slowdown in U.S. consumer demand, might point to a downward move. However, the potential for brewing geopolitical tensions could drive it higher.

The direction of this breakout will have a significant impact on the stock market as well. Time will tell which direction it takes.

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