VasilyPonomarev
Short

WTI OIL Volume Analysis

FX:USOIL   CFDs on Crude Oil (WTI)

hey traders,

wti is still in a clear uptrend.
and now the market is approaching multiple structure resistance levels looking left.

Take a look at volumes,
though on 11th of April we had a very calm trading day,
we see a selling volume spike.
Smart money started to sell and assets are changing hands.
Despite the fact that the market has made a new higher high,
we see one more selling volume spike.

Volumes do not confirm the uptrend anymore.
It is a warning sign for us.

Now, let's wait for a bearish breakout of a rising channel .
it is a very good confirmation signal.
60 and 58 are support levels for your targets.
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