🛢️ WTI Crude Oil (4H) – Bullish Reversal Setup
WTI has hit a significant support zone near $59.30, aligning with a previous demand area and low-volume node from earlier consolidation. Price action suggests potential exhaustion in the selling momentum as indicated by the histogram flattening.
🟢 Entry: $59.32
🎯 Target: $64.69 – Previous swing high and key supply level
🛑 Stop Loss: $57.32
📊 Risk/Reward Ratio: 2.79
📆 Target Date: May 6, 2025
📈 Projected Move: +9.06% / +$5.37
🔍 Key Observations:
Strong support area with prior reaction.
Price now trading at low end of value zone (yellow-blue volume profile), often signaling reaccumulation.
Histogram shows bearish momentum waning – potential for shift in trend.
A move above $61.83 could accelerate bullish continuation.
📌 Bias: Bullish – Buy the dip with confirmation above $60 for safer entry.
WTI has hit a significant support zone near $59.30, aligning with a previous demand area and low-volume node from earlier consolidation. Price action suggests potential exhaustion in the selling momentum as indicated by the histogram flattening.
🟢 Entry: $59.32
🎯 Target: $64.69 – Previous swing high and key supply level
🛑 Stop Loss: $57.32
📊 Risk/Reward Ratio: 2.79
📆 Target Date: May 6, 2025
📈 Projected Move: +9.06% / +$5.37
🔍 Key Observations:
Strong support area with prior reaction.
Price now trading at low end of value zone (yellow-blue volume profile), often signaling reaccumulation.
Histogram shows bearish momentum waning – potential for shift in trend.
A move above $61.83 could accelerate bullish continuation.
📌 Bias: Bullish – Buy the dip with confirmation above $60 for safer entry.
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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.