WTI crude oil - Cypher set up ahead of OPEC meeting

FX:USOIL   CFDs on Crude Oil (WTI)
  • Daily chart shows Leg D of the Cypher pattern may have resumed. Leg D which is 78.6% of XA leg is seen at $40.28 levels.
  • Note we also have a strong support of rising trend line (black).
  • Daily RSI is threatening to breach its rising trend line as well.
  • Cypher invalidation is seen only if prices see a day end closing above $5.18 levels.
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