WTI CRUDE OIL: targeting 95.00 with support by the 1M MA100.
WTI Crude Oil is neutral on its 1D technical outlook (RSI = 51.599, MACD = -0.340, ADX = 19.425) as the price hasn't practically moved for 3 straight weeks. Even the 1W RSI remains neutral (RSI = 46.004) as the last 4 candles have closed inside the 1M MA50 - 1M MA100 range. The 1M MA100 is basically supporting the pattern since April 2021. As long as it does, chances are will see a strong rebound to the R1 level, a price action much like what followed the 2013 consolidation that pivoted to Leg (4).
A similar S1 Zone was supporting on the 1M MA100. Consequently, we turn bullish on WTI expecting a R1 test in the coming months (TP = 95.00).
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
A similar S1 Zone was supporting on the 1M MA100. Consequently, we turn bullish on WTI expecting a R1 test in the coming months (TP = 95.00).
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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.