Oil Primed For A Parabolic Move

There was a break in market structure to the upside creating a higher high.

Failed breakout of January lows caused a Valley low.

Failed breakout of February highs caused a Peak formation high.

Market Traded back into the lows in 3 pushes and went into consolidation.

Looking for another break to the upside followed by 3 more drives into the low.

Would expect a chart pattern such as a double bottom and an engulfing candle to the upside for entry.

Minimum target is the high of the current year.

If there is a range expansion, 1 full expansion of this years range up to around $92.00