lyl89

WTI Analysis

TVC:USOIL   Crude Oil (WTI)
Yes, it's all over the news that OPEC has agreed to cut production by 1.2 million barrels a day by January, will it be short lived?
WTI has increased more than $4 since yesterday, and I see a potential bearish bat pattern forming.
PRZ is around the daily resistance level at $51 to $52.
Good R:R at 3.6 (TP1) and 19.7 (TP2).
WTI will probably continue to rise gradually.

Do take note of the bullish ascending triangle as well, to go long if resistance is broken.

I will update when price nears resistance.
Trade active: Not sure why my broker's price for WTI is slightly lower, it did not close above PRZ or SL price on my chart.

Pattern has completed and showed retracement, I have shorted at 51.5 last night.
Trade closed manually: In view of Bank of Canada's interest rate decision in 1 hour's time, I have decided to close my position at $50.25 with 125 pips profit.
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out