For the last three weeks, WTI Crude Oil is very bearish.
Recently the price broke and closed below a strong rising trend line and now is approaching strong horizontal support.
Here are key levels for you to watch for oil trading:
Support 1: 93.2 - 95.0 area.
Support 2: 86.6 - 89.7 area.
Support 3: 72.5 - 75.3 area.
Resistance: vertical trend line.
Resistance 1: 106.9 - 109.0.
Resistance 2: 114.3 - 116.7.
Breakout of one of those will trigger a bullish/bearish continuation to the next structure.
While a test and confirmation may give you a counter-trend/trend-following trade.
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✅Join My Telegram Channel: t.me/VasilyTrading
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
❗️YouTube Channel youtube.com/c/VasilyTrader
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⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
Related publications
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.