WTI - Daily - Waiting for a break outside of the range.
Trade Alert
Watch this commodity closely, as the range could get broken soon. Before we take a position, we need to see a break first through one of the sides.
Overall, WTI is still above the upwards moving trendline, taken from the low of 31st of August last year. Until it remains intact, the outlook is more to the positive side. That said, because WTI was held strongly by the 74.80 resistance line, we could eventually see a bit of a correction towards the aforementioned trendline, if the lower side of the range at around 72.90 gets broken and price of the day closes below.
Always have your SL in place.
Watch this commodity closely, as the range could get broken soon. Before we take a position, we need to see a break first through one of the sides.
Overall, WTI is still above the upwards moving trendline, taken from the low of 31st of August last year. Until it remains intact, the outlook is more to the positive side. That said, because WTI was held strongly by the 74.80 resistance line, we could eventually see a bit of a correction towards the aforementioned trendline, if the lower side of the range at around 72.90 gets broken and price of the day closes below.
Always have your SL in place.