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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✅Join My Telegram Channel: t.me/VasilyTrading
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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.