CRUDE OIL (WTI) Multi Time Frame Analysis & Technical Outlook 🛢
Hey traders,
WTI crude oil is steadily growing within a rising parallel channel.
The price is coiling around its resistance for the last two weeks.
Analyzing the reaction of the price to that structure, I spotted a peculiar horizontal range on 4H.
116.6 - 118.0 is its support.
Wait for its bearish breakout as your trigger to sell.
Then a bearish continuation will be expected to 112.4
If the price breaks the resistance of the range, the setup will be invalid.
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✅Join My Telegram Channel: t.me/VasilyTrading
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💰Instagram: instagram.com/VasilyTrader/ 💰
✅Facebook: facebook.com/VasilyTrading/ ✅
❗️YouTube Channel youtube.com/c/VasilyTrader
💰Instagram: instagram.com/VasilyTrader/ 💰
✅Facebook: facebook.com/VasilyTrading/ ✅
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.