WTI Crude Oil is on the pull back after a Resistance Zone (1) rejection.
The Rising Support trend line is parallel to the MA50 (1d) and a 0.5 Fibonacci test would be the most effective buy entry.
So far this resembles the January 29th 2024 rejection.
Trading Plan:
1. Buy on the 0.5 Fib.
Targets:
1. 86.50 (Resistance Zone 2).
Tips:
1. The RSI (1d) also shows similarities with the Jan 29th 2024 rejection, supporting our expectation of a MA50 (1d) bounce.
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The Rising Support trend line is parallel to the MA50 (1d) and a 0.5 Fibonacci test would be the most effective buy entry.
So far this resembles the January 29th 2024 rejection.
Trading Plan:
1. Buy on the 0.5 Fib.
Targets:
1. 86.50 (Resistance Zone 2).
Tips:
1. The RSI (1d) also shows similarities with the Jan 29th 2024 rejection, supporting our expectation of a MA50 (1d) bounce.
Please like, follow and comment!!
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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.
Join our private Telegram signals channel, with +70% accuracy for forex and crypto! 🎉
Also doing account management, earn +15% monthly profit!
👉CONTACT: t.me/tradingbrokersview
Stop gambling with your trades! 🎰
Start being profitable! 💰
Also doing account management, earn +15% monthly profit!
👉CONTACT: t.me/tradingbrokersview
Stop gambling with your trades! 🎰
Start being profitable! 💰
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.