The WTI Crude Oil is trading between the 4H MA200 and 4H MA50 with the price range tightening in February as the upside is limited to Lower Highs (LH) and the downside to Higher Lows (HL). The old Pivot (P1) is exactly on the 4H MA200 and we are waiting to short this, aiming at the HL (TP = 74.85). If it fails, we will wait until it hits R1 to short back to P1.
Under the Triangle, TP = S1 and 70.25 (S2).
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