Initial Resistance Zone Near $110

An initial upside target zone extends from $106.84 to $109.74, defined by the confluence of several indicators. These include the recent swing high of $106.84, which marks the upper boundary of the wedge pattern, and the May interim lower swing high of $109.74. However, since crude oil is progressing within a relatively well-defined trend channel, a sustained advance could eventually carry prices above this initial resistance zone.

Measured Move Points Toward $119

A simple measured-move projection based on the sharp March advance following an earlier breakout from a large falling wedge pattern points to a potential target near $119. That advance amounted to approximately 76% in just six days. Applying a similar percentage gain to the July higher swing low of $67.73 produces a comparable target, suggesting that the broader bullish structure could support a substantial further advance if the current reversal signals receive further confirmation.