Crude Oil: There has been a sharp bullish channel forming on the daily chart as all time high were breached on a daily basis. There has been a successful attempt to breach the channel on the bottom section of it and the 4 hour chart is supporting the validation of the breach. Forex traders have a great opportunity of joining the corrective move at a very early stage. The bearish trend might have a very high profit potential and a target price of 124.50.