I started thinking this wedge could be broken yesterday after that big 4HR hammer on the month pivot (thick cyan line with “P”) was formed. I went ahead and had buy limits on the high of it when it closed. This was a nice surprise to wake up to.

The wedge target measured move is about 67.00. However, the channel it is traveling in suggests prices can test the upper rail above 70.00. The current crude top is near the year Camarilla R3 pivot shown in the second picture (Pivots in first picture are month pivots, second picture year pivots).

In the second picture I added some other very important weekly close levels and the 2015 high from the past. These were major targets for me previously when we all went long after the big weekly inverse H & S was broken.

March through April is typically good for oil on average. I am not sure about the past 5 year performance.

Crude Oil Futures (CL) Seasonal Chart