DLavrov

WTI Weekly Chart

FX:USOIL   Crude Oil (WTI)
306 2 16
Let's look at the weekly chart, it's rather interesting. We have a chart pattern which gives us possible entry levels if one of the lines is broken. We have price reversal from MA100 and the resistance line which is confirmed by RSI and falling MACD . Do we have confirmation for down movement? I think yes, if price breaks MA50 and the support line, we'll need falling MACD and rising ADX . We'll have to search entry levels for short trades based on the daily chart . But if price breaks MA100 and the resistance line, we'll be ready for long trades.
Great chart. Currently I favor it will break up. Have a great week.
+1 Reply
DLavrov goodguy
Thanks for your comment! Have a great week too )
Reply
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