WTI OIL Are we repeating May's Channel Up? Slow rise to $55?

This is a strange but quite interesting fractal I found as I was trying to break-down the current Channel Up on the 1D time-frame that WTI is trading in.

As you see the current pattern resembles the sequence of May-early June 2020. Both started rising aggressively after the 1D MA50 (blue line) turned into Support. Shortly after the RSI turned sideways and in the case of May/ June, it stayed sideways and consolidated until the end of August.

So far we see this RSI consolidation on full display and it leads me to believe that we may have a similar development into early 2021. Is $55 possible by March? What do you think?

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