WTI Crude Oil Bullish Reversal Setup 🛢️📈
Analysis:
Chart Pattern: Descending channel breakout with price pushing above the trendline.
Structure: Clear formation of Higher Highs (HH) and Higher Lows (HL) indicating a shift to bullish structure.
Support Zone: Strong support between 68.41 – 68.75, where price reacted positively.
EMA Strategy: Price is now trading above the 70 EMA (69.25), showing bullish momentum.
Breakout Confirmation: HL breakout above channel resistance suggests potential continuation to the upside.
Target Projection: Based on the measured move strategy, the next target point is 70.51, a 2.54% gain from the support zone.
📌 Conclusion: Breakout above resistance with EMA support and bullish structure signals a potential long entry, targeting 70.51. A retest near 68.75 may offer a better entry zone.
Analysis:
Chart Pattern: Descending channel breakout with price pushing above the trendline.
Structure: Clear formation of Higher Highs (HH) and Higher Lows (HL) indicating a shift to bullish structure.
Support Zone: Strong support between 68.41 – 68.75, where price reacted positively.
EMA Strategy: Price is now trading above the 70 EMA (69.25), showing bullish momentum.
Breakout Confirmation: HL breakout above channel resistance suggests potential continuation to the upside.
Target Projection: Based on the measured move strategy, the next target point is 70.51, a 2.54% gain from the support zone.
📌 Conclusion: Breakout above resistance with EMA support and bullish structure signals a potential long entry, targeting 70.51. A retest near 68.75 may offer a better entry zone.
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join my tellegram channel
t.me/JaMesGoldFiGhteR786
join my refferal broker
one.exnesstrack.org/a/g565sj1uo7?source=app
t.me/JaMesGoldFiGhteR786
join my refferal broker
one.exnesstrack.org/a/g565sj1uo7?source=app
Related publications
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.