[Oil Breaks $100] Spot-On Scenario and Future Trading StrategiesCrude Oil FuturesNYMEX_DL:CL1!Chartinfo1019CL1! Hello! This is WBT from the Chartinfo team. Recently, crude oil prices have broken above $100 again, showing strong upward momentum. As an extension of our previous post, today we will review the recent flow of oil prices and check the trading scenarios we should prepare for moving forward. Reviewing Previous Analysis: $95 Support and the $79 Bottom In our previous analysis, after predicting a drop from $117, we checked whether the $95 key price level would hold as support. We expected that if this support broke, a bigger drop would occur, forming a bottom around $78. In reality, oil formed a bottom at $79 and then bounced back up to around $95. Eventually, this key price level was broken, and oil has once again reclaimed $100. Sharp Insight: What Skipping the Retest Means The key point to note here is this. Oil went straight up without retesting the bottom of the channel, which was the $77 to $78 zone. Watching this flow, I had a strong suspicion. I thought that if buying pressure comes in without dropping back down to the channel bottom, it could easily break through and reach $100, even if there was some resistance at $95. And this analysis has now perfectly become a reality. Future Trading Scenarios: Dow Trend and Ranging Market So, what criteria should we base our trades on now? The first key is whether it breaks $105.63. If this price level is broken, it means the Dow trend on the 4-hour (4H) timeframe is invalidated. This could be an inflection point for the trend, so we need to watch this very closely. The second is the possibility of consolidation after forming a high. A ranging market could follow after hitting the previous high of $117. We can keep our scenarios open for a tight range between $84 and $102, or a broader range between $77 and $117. For the Perfect Trade We need to stay flexible and adapt to these scenarios. If even the previous high of $117 is broken, oil might see an unprecedented massive rally. If you're curious about insights that pierce through the market and practical trading strategies, please follow our Chartinfo team. See you in the next post!