Big movement expected on Light Sweet Crude Oil AUGUST 2020 after a breach of the resistance

Light Sweet Crude Oil AUGUST 2020 has broken through a resistance line of a Pennant and suggests a possible movement to 40.5391 within the next 16 hours. It has tested this line in the past, so one should probably wait for a confirmation of this breakout before placing a trade. If the breakout doesn’t confirm, we could see a retracement back to lines seen in the last 7 days.