trading plan for WTI: double top in a rising channel
Updated
hey guys,
wti is trading inside a rising parallel channel.
after the market has reached a 60 level we have a trend weakening signs.
the market could not establish a new higher high and was rejected by 60 level.
formation of a double top and overbought rsi with divergence is a red flag for us.
if the market breaks the local support level, it will also break a support line of a rising channel
- giving us a great opportunity for entry.
just wait for a bearish breakout.
initial target is based on structure.
good luck!
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