"Crude Oil Forms Bullish Pennant – $66 Targets Ahead "

Sep 16

🔹Technical Analysis on WTI Crude Oil (1H Chart)

▪Chart Pattern Formation:

The price action is currently forming a Bullish Pennant Pattern, which often signals a continuation of the prior upward momentum. This indicates potential bullish pressure building up for the next move.

▪Demand Zone:

A strong demand zone has been established around the 61.80 – 62.00 area. Price respected this level previously, suggesting strong buyer interest and a solid support base.

▪Upside Targets:

▫1st Target Area: $65.00
▫Final Target Zone: $65.57

A breakout above the pennant resistance trendline with volume confirmation is likely to push price toward these targets.

▪Conclusion:

As long as the demand zone holds and the breakout sustains, WTI Crude Oil is expected to remain bullish, with $65.00 and $65.57 as the near-term resistance objectives.

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Sep 17

Trade active

Sep 18

Note

Sep 22

Note

Price at demand zone

Sep 24

Note

price gave again respect to demand zone,

Sep 24

Note

Sep 25

Trade closed: target reached