🔹Dear Traders and Investors,
Here’s an in-depth analysis of Crude Oil designed to support your trading decisions and provide the community with clear, actionable insights.
🔹WTI Crude Oil Daily Chart – Technical Analysis
▪️Current Market Structure:
The chart reflects a clear bearish market structure following a sharp decline from the supply zone around $72-$74. Price is currently trading at $62.52, within a clearly defined resistance area for price, indicating a potential reversal point.
Key Zones:
* Resistance Level: Around $81-$84
* Supply Zone: $70-$74
* Consolidation Zone: $64-$67
* Current Resistance Area: $63-$65
* Support or Target Zone: $54-$56
Price Action Insight:
After a recent bounce from the support level or target area, price has retraced into a resistance zone, where bearish pressure is expected. The red arrow signals prior rejection in this area, reinforcing its significance. Given the structure, the market may form a lower high here, maintaining the overall downtrend.
Outlook:
If the resistance holds, a potential bearish move towards the $55 support zone is likely. A break below intermediate support around $58 would further confirm downside momentum.
Conclusion:
Traders should watch for bearish confirmation (e.g., bearish candlestick patterns or breakdowns) near the $63–$65 resistance zone for potential short opportunities, targeting the $55 level. Caution is advised if price breaks above $65, as it may revisit the supply zone.
🔹Community Insight:
If you find this analysis helpful in your trading journey, feel free to share your thoughts or questions in the comments. Let’s work together to maintain a disciplined, technical approach to the markets.
▪️Follow for regular updates and trade setups.
Here’s an in-depth analysis of Crude Oil designed to support your trading decisions and provide the community with clear, actionable insights.
🔹WTI Crude Oil Daily Chart – Technical Analysis
▪️Current Market Structure:
The chart reflects a clear bearish market structure following a sharp decline from the supply zone around $72-$74. Price is currently trading at $62.52, within a clearly defined resistance area for price, indicating a potential reversal point.
Key Zones:
* Resistance Level: Around $81-$84
* Supply Zone: $70-$74
* Consolidation Zone: $64-$67
* Current Resistance Area: $63-$65
* Support or Target Zone: $54-$56
Price Action Insight:
After a recent bounce from the support level or target area, price has retraced into a resistance zone, where bearish pressure is expected. The red arrow signals prior rejection in this area, reinforcing its significance. Given the structure, the market may form a lower high here, maintaining the overall downtrend.
Outlook:
If the resistance holds, a potential bearish move towards the $55 support zone is likely. A break below intermediate support around $58 would further confirm downside momentum.
Conclusion:
Traders should watch for bearish confirmation (e.g., bearish candlestick patterns or breakdowns) near the $63–$65 resistance zone for potential short opportunities, targeting the $55 level. Caution is advised if price breaks above $65, as it may revisit the supply zone.
🔹Community Insight:
If you find this analysis helpful in your trading journey, feel free to share your thoughts or questions in the comments. Let’s work together to maintain a disciplined, technical approach to the markets.
▪️Follow for regular updates and trade setups.
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Note
trade running 150 pips+Trade closed manually
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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.
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.