CRUDE OIL BREAKOUT & NATURAL GAS BUY ZONE 🚨 $120 Oil Coming?

Gareth Soloway opens by framing the video as a technical deep dive on crude oil and natural gas, explicitly asking whether they could become major upside runners. On crude oil, he says the chart has already broken out of a wedge pattern and that the immediate question is whether the rally can continue into the next resistance zone around $68–$69 per barrel. He emphasizes that he remains bullish until that resistance is reached, noting the market is near $63 at the time. He then expands to a higher-time-frame weekly chart and argues that a breakout above the broader downsloping trend line could open the door to a much larger move, potentially toward $120 per barrel, which he characterizes as a silver-like, explosive upside scenario. …

1. Crude oil has already broken out on the daily chart and is now approaching the first major resistance zone around $68–$69.
2. Soloway treats $68–$69 as the tactical line to unload oil longs, while the lower parallel channel around $45–$40 is where he would consider buying a deeper selloff.
3. A higher-time-frame breakout above the broader oil trend line could, in his view, set up an outsized move toward $120 per barrel.
4. He links the bullish oil scenario to geopolitical catalysts such as Iran escalation or a wider Russia conflict, but presents these as possible triggers rather than certainties.
5. Natural gas has pulled back into a support/accumulation zone; he wants to scale in near $3.00–$2.90 and add more near $2.80.
6. He is using commodity ETFs for exposure rather than trading futures directly.
7. The video is heavily technical and educational, with a strong emphasis on trend lines, wedges, parallel channels, and historical analogies to prior commodity manias.

• The $120 oil scenario is presented as a chart-based possibility, but the causal path is speculative and depends on multiple uncertain geopolitical or macro triggers.
• The argument leans heavily on historical analogies (2008, 1970s/1980s) that may not map cleanly to the current supply-demand and policy backdrop.
• He assumes the breakout structure will behave similarly to prior patterns, but gives limited discussion of inventory, OPEC policy, shale response, or broader fundamentals.
• The natural gas accumulation plan is sensible technically, but the exact support zones may not hold if volatility expands further; the transcript does not address that risk in depth.