VasilyTrader

CRUDE OIL (WTI) Year's High Ahead! Important Update 🛢

Short
TVC:USOIL   CFDs on WTI Crude Oil

Hey traders,

WTI Oil is approaching a key weekly/daily structure resistance .
76.8 - 77.2 is our potential reversal zone.
Being heavily overbought, we may catch a pullback from that.
Our confirmation will be a bearish breakout of a rising channel on 4h.

In case of a 4H candle close below its support, a bearish continuation will be expected.
Goals will be: 74.0/73.0

Alternatively, in case of a daily candle close above the underlined zone, a bullish continuation will be expected.

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Comment: Check my new analysis on DXY: