@murphydoc – I’m catching up on notifications to comment replies today & came across this one regarding possibly going long on that breakout above the 60-minute triangle in crude. While it would have been an objective entry for a short-term trade lasting a few days & could certainly morph into a multi-week or even multi-month swing trade, the daily charts of crude just aren’t clear enough for me to want to take any position in crude at this time. A lot like the equity markets, crude has been trading sideways for months now. Such sideways ranges often serve to run stops & even if not, can be quite frustrating to trade.
Sorry for the late reply but if you took a long in USO following that breakout, it is still trading right around the high-point of that post-breakout rally, gaining over 6% with the first key resistance/target level around 11.15-11.20 (horizontal resistance best viewed on the 60-minute chart) so this is where I would likely be booking profits, had I taken a long on the breakout.

riverbirch- Normally, yes but just like crude/USO, the $USD is also coiling within an very similar triangle pattern (can be viewed on the daily chart) and this current triangle formation on the dollar comes after a very large, sideways indeterminable trading range, this current pattern can break either way. So while the outlook for the $USD based soley on the charts of $DXY/$USD is somewhat unclear, it still looks to me that the dollar is set to rally against the Euro & especially the Yen, which make up the bulk of the dollar index. A rising dollar is typically bearish for crude oil prices but with all the pricing distortions caused by the central bank’s intervention in the financial markets, anything can happen.