WTI, Gap Has Been Filled, These Outcomes Possible Now!

Hello Traders Investors And Community,

Welcome to this analysis where we are looking at WTI 12-hour timeframe perspective, the recent events, the current formational structure, and what we can expect the next times, WTI has recently successfully filled the gap at around 36 as expected, if you did not saw this analysis already I highly recommend you watch it by going on my account, now WTI has shown some important heavy volatile price action to the upside bouncing at the gap and resulting in an impulse to the upside. This is why it is important at the moment to assess if WTI manages to move higher in the structure or falls back to visit lower levels again in this case I detected all the important consideration and outcomes we should look at at the moment and it is important to not get overly speculative on the rally currently occurring as there are still some factors that can result into the reverse perspectives.

Looking at my chart you can watch the freshly established wave-count to the upside marked in red, this wave count will go on till there is resistance approached which WTI has at the rising resistance marked in blue, this is coming together with the horizontal resistance and building a coherent bearish cluster here marked in red where the possibility for an incoming pull-back is high, currently, it is not the highest possibility that WTI just shoots above this resistance, therefore, a first pullback is more likely which will happen till the next support marked in blue in my chart where WTI has some solid supports, overall this can be the origin to form the second major impulse to the upside, it has to be noted however that WTI really needs to hold this level and bounce there otherwise when falling below there will come lower levels within a high likelihood spectrum.

In this manner, thank you for watching, support for more market insight, good day to you, and all the best!
“Trading effectively is about assessing possibilities, not certainties.”

Information provided is only educational and should not be used to take action in the markets.