WTI US OIL Outlook : High chance of a SHORT OPPORTUNITY
HELLO EVERYONE, FEEL FREE TO LIKE AND FOLLOW IF YOU LIKE MY IDEAS!
First of, H1 Time frame, shows a recent bearish double top pattern that lead to a sell off to the nearest support level @ 25.00. This is followed by a SHARP REJECTION at the resistance line @ 27.70, proving to be a tough barrier to break through.
WTI is now fighting in the 25.00 - 26.00 range
Possible Opportunities:
- An hourly candle CLOSE ABOVE 26.00 followed by bullish confirmation would see WTI retest the resistance of @ 27.70, giving us a possible LONG opportunity to 27.70
- A BREAKDOWN BELOW 24.50-25.00 area of support would see us a SHORT opportunity to TP1 @ 20.60, an area of major support
As always, remember to place your stop losses and good luck!
Regards,
Gol D Roger
First of, H1 Time frame, shows a recent bearish double top pattern that lead to a sell off to the nearest support level @ 25.00. This is followed by a SHARP REJECTION at the resistance line @ 27.70, proving to be a tough barrier to break through.
WTI is now fighting in the 25.00 - 26.00 range
Possible Opportunities:
- An hourly candle CLOSE ABOVE 26.00 followed by bullish confirmation would see WTI retest the resistance of @ 27.70, giving us a possible LONG opportunity to 27.70
- A BREAKDOWN BELOW 24.50-25.00 area of support would see us a SHORT opportunity to TP1 @ 20.60, an area of major support
As always, remember to place your stop losses and good luck!
Regards,
Gol D Roger