WTI Oil - 4H
Updated
WTI oil completed its second bullish leg and has now formed a reversal setup. The price action shows that WTI missed the ascending channel support and is currently consolidating below the previous support zone, which has now turned into a resistance level. This suggests a potential bearish outlook as the price struggles to regain upward momentum.
With the recent break of the ascending channel, it is expected that WTI may continue its downward trajectory. The consolidation under the new resistance zone indicates seller strength, and further declines could be seen if the price fails to break back above this resistance. Traders should watch for key support levels around $81 and $78 for potential buy signals or continuation of the bearish trend.
With the recent break of the ascending channel, it is expected that WTI may continue its downward trajectory. The consolidation under the new resistance zone indicates seller strength, and further declines could be seen if the price fails to break back above this resistance. Traders should watch for key support levels around $81 and $78 for potential buy signals or continuation of the bearish trend.
Note
WTI Oil has once again proven the accuracy of our magic zones. The price fell as expected, hitting the first support zone and reacting strongly with a rise. It then reached the resistance zone, perfectly respecting the levels we highlighted. This demonstrates the importance of identifying and leveraging these crucial zones in your trading strategy. Congrats to everyone who followed this analysis!Note
Perfect reaction to our critical zones! OIL fell just as we anticipated. This is a great moment for everyone who followed our analysis and capitalized on this movement. Congratulations to all for a job well done! 🚀Note
Oil moved exactly as I anticipated, hitting our target zones perfectly. Congratulations to everyone who followed the analysis and benefited from these movements. Keep an eye on these critical levels for future opportunities.
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