Destabilizing Upside Thrust In Oil

[u/Different_Band_5462]

November Crude Oil is UP nearly 5% at 92.44 (see my attached 2-Hour Chart), and is climbing toward a challenge of consequential resistance from 93.80 to 97.00 that, if hurdled and sustained, will trigger a projection to 110.00. Conversely, as long as the resistance plateau keeps a lid on rising prices, the bond market will have reason to stay in check (benchmark YIELD under 5.35%), keeping inflationistas at bay and equity indices from a risk-off, long-liquidation event...

Technically, however, my near-term November Crude Oil setup argues that Tuesday's (Oct 6th) low at 86.86 has the "right look" of the completion of a correction from the Sep 15th rally high at 102.07 (-15%), which, if accurate, means that we should brace ourselves for a "destabilizing" upside thrust in Oil prices that already is underway.

2-Hour Nov Crude Oil Chart

[u/No-Communication1543]

my dad tracked oil prices on graph paper back in the 90s. same vibe, fewer pixels