Hey traders,
WTI Oil is approaching a key weekly/daily structure resistance.
76.8 - 77.2 is our potential reversal zone.
Being heavily overbought, we may catch a pullback from that.
Our confirmation will be a bearish breakout of a rising channel on 4h.
In case of a 4H candle close below its support, a bearish continuation will be expected.
Goals will be: 74.0/73.0
Alternatively, in case of a daily candle close above the underlined zone, a bullish continuation will be expected.
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Note
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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
✅ Facebook: facebook.com/VasilyTrading/
⭐ 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.