WTI OIL should avoid this fractal at all costs.

I don't call it Fractal of Doom for nothing. As you see WTI Oil hit the 2 year Resistance trend-line (red zone) that was first created on the April 23, 2019 High, and got strongly rejected on March 08, 2021. This is a Triple Top (counting the Jan 08, 2020 almost hit). A common characteristic of all three rejections is that after the initial drop, the price consolidated (orange rectangle) around on the 1D MA50 (blue trend-line). On the first 2 occasions, a bigger fall took place after this consolidation. Will it happen again this time?

It is worth pointing out also the important of the 50.00 - 51.00 zone (blue) as a long-term Support. It didn't only hold from January 2019 to January 2020 (broke due to the COVID pandemic) but also on January 2021. If the bigger fractal fall comes after the current consolidation, will that (blue) Support Zone hold again and cause another lengthy sideways period between this and the (red) Resistance?

I am really interested to read your opinions on it.

P.S. See the RSI similarities



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