WTI is trading within a Channel Up on the 4H chart (RSI = 56.026, MACD = 0.100, ADX = 22.319) having successfully crossed the 4H MA50. This has been typically a bullish extension sign since May 28th. We are bullish aiming at 41.50 - 42.00.
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Pattern: Channel Up on 4H.
Signal: Bullish as a bottoming fractal has been formed after the price bounced near the Higher Lows trend-line since May 27 and the RSI bounced near the Lower Low trend-line of its Channel Down.
Target: 42.00 (just below the Higher High of the Channel Up).
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