FOREXCOM:WTIUSD TVC:USOIL The first analysis on the one-hour movement of the WTIUSD chart Due to several unsuccessful price encounters with the level of 11870, if the four-hour candle continues below this level, there is a possibility that the price will fall to the level of 11516-11424. However, due to the recent roof structure and the closing of the previous daily candle above the level of 11870, there is a possibility of an increase to the level of 11990. As long as the 4-hour candle is below the 11870 level, this view of a price rise is unlikely.
Optimal stop-loss for short position is above the level of 11990.
The optimal TP for short position is also around the level of 11471.
Trade closed: target reached
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The 4-hour candle was supported above the 11870 level. The price went up to 11990.