Crude oil traded out of the 5-wave continuation pattern on March 29. The new bullish upward swing was confirmed after the market posted a low pivot on March 26, followed by a close above the up-sloping median line on March 31. This pattern can be a very important marker in a trending market because it usually marks the center of the long-term trend. Therefore, the reverse/forward count suggest the upward trend is likely to continue into the April 20 reversal swing date with a target objective at the junction of the reaction line and the uppper parallel line…currently crossing 92.25. I will continue to post information about the bullish trend in the Traders Market Views or you can follow the current open positions in the RT Swing Trader.
