WTI Crude Oil is on a short term Channel Up on the 1H chart (RSI = 52.630, MACD = 0.040, Highs/Lows = 0.0000). Those neutral technical indicators suggest that we may be near a buy level and as we see on the chart the price is indeed near the Higher Low trend line.
Additionally we see a double tier Support level provided 1st by the 1H MA50 and 2nd by the MA200. So far we've bounced on the MA50. The RSI also bounced right above the Buy Zone for December. Based on those signals we are expecting a structured rise to a new Higher High at 61.40.
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Additionally we see a double tier Support level provided 1st by the 1H MA50 and 2nd by the MA200. So far we've bounced on the MA50. The RSI also bounced right above the Buy Zone for December. Based on those signals we are expecting a structured rise to a new Higher High at 61.40.
** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial