🔍 Technical Analysis: WTI Crude Oil (1H)
Resistance Holding Firm
Price recently retested the resistance zone near $62.50–$63.80, where strong selling pressure emerged. The zone has been respected multiple times, confirming it as a key level.
Bearish Reaction & Rejection
A clear rejection from the resistance is visible with a shift in market structure. Sellers stepped in as price failed to break above, followed by a bearish candle setup.
Potential Downside Setup
With the current breakdown, if bearish momentum continues, price may head toward the first support at $58.89. A break below that could open the path toward the target zone near $56.41.
Outlook
- Bias: Bearish under resistance
- Invalidation: Break and close above $63.80
- Target Zones: $58.89 and $56.41
If you enjoy, press the like button.
Resistance Holding Firm
Price recently retested the resistance zone near $62.50–$63.80, where strong selling pressure emerged. The zone has been respected multiple times, confirming it as a key level.
Bearish Reaction & Rejection
A clear rejection from the resistance is visible with a shift in market structure. Sellers stepped in as price failed to break above, followed by a bearish candle setup.
Potential Downside Setup
With the current breakdown, if bearish momentum continues, price may head toward the first support at $58.89. A break below that could open the path toward the target zone near $56.41.
Outlook
- Bias: Bearish under resistance
- Invalidation: Break and close above $63.80
- Target Zones: $58.89 and $56.41
If you enjoy, press the like button.
Trade active
💸FREE FOREX Signals in Telegram : t.me/SOAMPROTRADER
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/SOAMPROTRADER
🚀FREE CRYPTO Signals In Telegram: t.me/SOAMPROTRADER
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/SOAMPROTRADER
🚀FREE CRYPTO Signals In Telegram: t.me/SOAMPROTRADER
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.
💸FREE FOREX Signals in Telegram : t.me/SOAMPROTRADER
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/SOAMPROTRADER
🚀FREE CRYPTO Signals In Telegram: t.me/SOAMPROTRADER
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/SOAMPROTRADER
🚀FREE CRYPTO Signals In Telegram: t.me/SOAMPROTRADER
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.