WTI reaches a new high.
As long as we trade above $40.89, we expect higher prices, without further detours. The next goal for the hungry bulls is the region around the 161.8% Extension at $49. After a short correction, which will give us another opportunity for re-entry, we see the bulls passing area 51 and leaving for prices in the $56 region. We are Long since $42.60 and hold on to our position. WTI needs to exceed $44.08 to unlock prices in the $50 range. It is essential that the price will not fall below $40.89 and, ultimately, $39.53 to continue the current upward movement. Below these 2 support lines is bearish territory.
Feel free to comment and discuss!
Happy trading!
As long as we trade above $40.89, we expect higher prices, without further detours. The next goal for the hungry bulls is the region around the 161.8% Extension at $49. After a short correction, which will give us another opportunity for re-entry, we see the bulls passing area 51 and leaving for prices in the $56 region. We are Long since $42.60 and hold on to our position. WTI needs to exceed $44.08 to unlock prices in the $50 range. It is essential that the price will not fall below $40.89 and, ultimately, $39.53 to continue the current upward movement. Below these 2 support lines is bearish territory.
Feel free to comment and discuss!
Happy trading!
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🚀 Spot trends early with momentum, sentiment & price structure
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.