WTI Oil - within raising channel - testing resistance
Oil price is currently within raising channel after breakout from January 9 to 11.
The price is testing now the channel resistance line and I expect further price dumps down to 50 which is take profit 1 area.
If the price should break the bottom line from channel the take profit 2 is active.
MACD and RSI are showing bearish signals and turning for correction.
The price is testing now the channel resistance line and I expect further price dumps down to 50 which is take profit 1 area.
If the price should break the bottom line from channel the take profit 2 is active.
MACD and RSI are showing bearish signals and turning for correction.
Trade closed manually:
take profit at 51 yesterday after 4 hour chart showed rebounce/trend reversal
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
