After moving above the daily Ichimoku cloud, WTI has just got back above the H1 cloud, suggesting that both the short and long term trends may now have turned higher.
Price needs to clear prior overhead resistance around 39.40 before a sizable move can occur and also worth noting the H1 cloud break is yet to be confirmed by the accompanying lines.
Nonetheless, long positions with a stop loss around 38.05 seem attractive targeting a move back towards 41.60 or potentially even higher
Price needs to clear prior overhead resistance around 39.40 before a sizable move can occur and also worth noting the H1 cloud break is yet to be confirmed by the accompanying lines.
Nonetheless, long positions with a stop loss around 38.05 seem attractive targeting a move back towards 41.60 or potentially even higher