US Light CrudeShort
WTI OIL potential rejection leading to the Channel's bottom.
WTI Oil (USOIL) has been trading within a Channel Up pattern on the 1D time-frame with the price on a Bearish Leg since its January 15 Higher High.
The price is right now being rejected on its 1D MA50 (blue trend-line) and based on the last two main bearish sequences since July 2024, a 1D MA200 (orange trend-line) max rejection is quite possible here to continue the Bearish Leg.
Our Target is the bottom of the Channel Up at $69.
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Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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The price is right now being rejected on its 1D MA50 (blue trend-line) and based on the last two main bearish sequences since July 2024, a 1D MA200 (orange trend-line) max rejection is quite possible here to continue the Bearish Leg.
Our Target is the bottom of the Channel Up at $69.
-------------------------------------------------------------------------------
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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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.
👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
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.