Bearish signal potential with double top formation

Candlestick_OB Updated   
The oil USDWTI market has reached the previously predicted target,
with the current price stopping at $70.95, a strong resistance level due to its support of the price in December. This price level also coincides with the 38.20% Fibonacci level, the 50-period moving average on the 4-hour chart, and intersects with the weekly downtrend. On the 4-hour and 1-hour charts, we observe a rejection pattern with a double top formation and divergence, indicating a potential bearish signal if the neckline at 69.48 is breached. This could lead to a sell signal with a target of 67.28. Alternatively, if the price breaks the resistance level, this would indicate a buy signal with a target of 72.71.

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