Crude Oil (WTI) 2 Scenarios Explained 🛢️
WTI Crude Oil is stuck between 2 solid structures.
Depending on the reaction of the price to these structures, I see 2 potential scenarios.
Bullish Scenario.
If the price breaks and closes above 74.3 resistance on a daily,
a bullish continuation will be expected to 76.57 level.
Bearish Scenario.
If the market drops and closes below 69.4 support,
a bearish movement will be expected to 65.0 level.
Wait for a breakout, it will show you the future direction of the market.
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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.