WTI Crude Oil (1H) Technical Analysis
- Supply Zone: Price is testing a key supply zone around $70.80 - $71.00, which previously led to strong selling pressure.
- Bearish Rejection: Initial rejection indicates potential for a short setup.
- Target Area: The downside target is around $68.76 - $68.79, aligning with prior demand and support.
- Trade Setup: A short position from the supply zone with SL above $71.00 and TP near $68.76 offers a favorable risk-to-reward ratio.
- Confirmation Needed: A clear rejection or bearish structure break will validate further downside potential.
Bias: Bearish below supply zone, invalidation if price breaks above $71.00.
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- Supply Zone: Price is testing a key supply zone around $70.80 - $71.00, which previously led to strong selling pressure.
- Bearish Rejection: Initial rejection indicates potential for a short setup.
- Target Area: The downside target is around $68.76 - $68.79, aligning with prior demand and support.
- Trade Setup: A short position from the supply zone with SL above $71.00 and TP near $68.76 offers a favorable risk-to-reward ratio.
- Confirmation Needed: A clear rejection or bearish structure break will validate further downside potential.
Bias: Bearish below supply zone, invalidation if price breaks above $71.00.
If you enjoy, press the like button.
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Trade closed: target reached
Price hit our target, risk to reward ratio 1:2 completed. 
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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.