- WTI crude oil reversed from key support level 55,00
- Likely to rise to resistance level 65.00
WTI crude oil recently reversed up from the key support level 55,00 standing close to the lower daily and the weekly Bollinger Bands.
The upward reversal from this support level created the weekly Japanese candlesticks reversal pattern long-legged Doji which stopped the previous impulse waves 5 and (3).
Given the strength of the support level 55,00, WTI crude oil can be expected to rise to the next resistance level 65.00 (former multiyear support level, acting as the resistance after it was broken earlier).
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
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Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.