{"id":227185,"date":"2025-01-12T01:30:00","date_gmt":"2025-01-12T09:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=227185"},"modified":"2025-01-11T13:27:30","modified_gmt":"2025-01-11T21:27:30","slug":"weekly-crude-oil-breakout-above-the-triangle","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/weekly-crude-oil-breakout-above-the-triangle\/","title":{"rendered":"Weekly Crude Oil Breakout Above the Triangle"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: Crude Oil Futures<\/h2>\n\n\n\n<p>The market formed a weekly Crude Oil breakout above the triangle pattern. The bulls want a measured move based on the height of the tight trading range which will take them to the July high area. The bears want a reversal from a double top bear flag (Oct 8 and Jan 10). They want the October or July highs to act as resistance.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Crude oil futures<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Weekly<\/em> crude oil chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/Crude-Oil-Weekly-BO-Above-Triangle-Bulls-Need-FT.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/Crude-Oil-Weekly-BO-Above-Triangle-Bulls-Need-FT-680x383.jpg\" alt=\"Crude Oil Weekly - BO Above Triangle, Bulls Need FT, Weekly Crude Oil Breakout Above the Triangle\" class=\"wp-image-227359\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/Crude-Oil-Weekly-BO-Above-Triangle-Bulls-Need-FT-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/Crude-Oil-Weekly-BO-Above-Triangle-Bulls-Need-FT-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/Crude-Oil-Weekly-BO-Above-Triangle-Bulls-Need-FT-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/Crude-Oil-Weekly-BO-Above-Triangle-Bulls-Need-FT-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/Crude-Oil-Weekly-BO-Above-Triangle-Bulls-Need-FT.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li>This\u00a0week\u2019s\u00a0candlestick on the\u00a0<a href=\"https:\/\/www.investing.com\/commodities\/crude-oil-streaming-chart\" target=\"_blank\" rel=\"noreferrer noopener\">weekly Crude Oil chart<\/a> was a consecutive bull bar closing in its upper half with a prominent tail above.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/crude-oil-breakout-from-tight-trading-range\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that the odds slightly favor the market trade at least a little higher towards the October 8 high area. Traders would see if the bulls could create sustained follow-through buying over the next few weeks or if the market would trade slightly higher but stall around the October 8 high area instead.<\/li>\n\n\n\n<li>The market traded higher and tested the October 8 high this week.<\/li>\n\n\n\n<li>The bulls got a breakout above the top of the triangle this week.<\/li>\n\n\n\n<li>They want a measured move based on the height of the tight trading range which will take them to the July high area.<\/li>\n\n\n\n<li>They need to create a follow-through bull bar following this week\u2019s breakout above the triangle to increase the odds of a retest of the trading range high.<\/li>\n\n\n\n<li>The bears want a reversal from a double top bear flag (Oct 8 and Jan 10).<\/li>\n\n\n\n<li>They want the October or July highs to act as resistance.<\/li>\n\n\n\n<li>They see the current move as a bull leg within a trading range.<\/li>\n\n\n\n<li>They want a retest of the middle of the trading range (around the 20-week EMA area).<\/li>\n\n\n\n<li>For now, the market may still be in the sideways to up phase.<\/li>\n\n\n\n<li>Traders will see if the bulls can create sustained follow-through buying over the next few weeks.<\/li>\n\n\n\n<li>Or will the market trade slightly higher but stall around the October or July highs area instead?<\/li>\n\n\n\n<li>The market remains in a large trading range. Odds favor the current move to be a bull leg within the trading range.<\/li>\n\n\n\n<li>Traders will BLSH (Buy Low, Sell High) until there is a breakout from either direction with\u00a0sustained follow-through buying\/selling.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Daily<\/em> crude oil chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/Crude-Oil-Daily-Bulls-Want-Retest-July-or-April-Highs.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/Crude-Oil-Daily-Bulls-Want-Retest-July-or-April-Highs-680x383.jpg\" alt=\"Crude Oil Daily - Bulls Want Retest July or April Highs\" class=\"wp-image-227362\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/Crude-Oil-Daily-Bulls-Want-Retest-July-or-April-Highs-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/Crude-Oil-Daily-Bulls-Want-Retest-July-or-April-Highs-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/Crude-Oil-Daily-Bulls-Want-Retest-July-or-April-Highs-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/Crude-Oil-Daily-Bulls-Want-Retest-July-or-April-Highs-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/Crude-Oil-Daily-Bulls-Want-Retest-July-or-April-Highs.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The market traded sideways for most of the week forming a small bull flag. Friday broke higher testing the October 8 high.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/weekly-crude-oil-inside-bar\/\" target=\"_blank\" rel=\"noreferrer noopener\">Previously<\/a>, we said that the traders would see if the bulls could break above the tight trading range with follow-through buying or if the market would continue to chop sideways and test the bottom of the tight trading range instead. Traders will wait for a strong breakout and trade in the direction of the breakout.<\/li>\n\n\n\n<li>The bulls got a strong breakout above the tight trading range to retest the October 8 high.<\/li>\n\n\n\n<li>They want a measured move based on the height of the tight trading range which will take them to the July high area.<\/li>\n\n\n\n<li>They got a breakout above the triangle pattern this week.<\/li>\n\n\n\n<li>The bulls must continue creating follow-through buying to increase the odds of testing the top of the trading range.<\/li>\n\n\n\n<li>The bears want the market to reverse and retest the middle of the trading range from a double top bear flag (Oct 8 and Jan 10).<\/li>\n\n\n\n<li>They want the October or July high to act as resistance.<\/li>\n\n\n\n<li>They see the current move as a bull leg within a trading range.<\/li>\n\n\n\n<li>They need to create strong bear bars to show that they are back in control.<\/li>\n\n\n\n<li>So far, the buying pressure since the breakout from the tight trading range is stronger (consecutive bull bars, big bull bars) than the selling pressure (bear bars with no follow-through selling).<\/li>\n\n\n\n<li>The market may still trade at least a little higher.<\/li>\n\n\n\n<li>Traders will see if the bulls can create follow-through buying testing the July high area.<\/li>\n\n\n\n<li>Or will the market stall around the October 8 high area instead?<\/li>\n\n\n\n<li>For now, odds favor the current move to be a bull leg within a trading range.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n\n\n\n<h3 class=\"wp-block-heading\">Market analysis reports archive<\/h3>\n\n\n\n<p>You can access all weekend reports on the <a rel=\"noreferrer noopener\" class=\"rank-math-link\" href=\"https:\/\/www.brookstradingcourse.com\/blog\/analysis\/\" target=\"_blank\">Market Analysis<\/a> page.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Market Overview: Crude Oil Futures The market formed a weekly Crude Oil breakout above the triangle pattern. The bulls want a measured move based on the height of the tight trading range which will take them to the July high area. The bears want a reversal from a double top bear flag (Oct 8 and [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":227359,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"shadow","_genesis_layout":"","footnotes":""},"categories":[1892,136],"tags":[325],"class_list":{"0":"post-227185","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crude-oil","8":"category-analysis","9":"tag-crude-oil-futures","10":"entry","11":"override","12":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/Crude-Oil-Weekly-BO-Above-Triangle-Bulls-Need-FT.jpg","author_info":{"display_name":"Andrew","author_link":"https:\/\/www.brookstradingcourse.com\/pt-br\/author\/andrewa\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/227185","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/users\/2836"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/comments?post=227185"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/227185\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/227359"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=227185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=227185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=227185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}