WTI Poised for a Rally? Key Support Hold Could Send Prices Skywa
The chart indicates that WTI is approaching a critical support zone between $67.60 and $69.40, a level previously tested and held.
After forming a consolidation pattern, the price is likely to break upward, heading toward the next resistance at $72.50 and potentially extending to $76.00 if momentum builds.
A bullish move would be supported by the price remaining above the $69.40 area, indicating strong demand at these levels.
However, if this support breaks, there could be a further downward move towards $67.60.
The target zones to watch on the upside are $72.50 and $76.00, with significant resistance around those levels.
After forming a consolidation pattern, the price is likely to break upward, heading toward the next resistance at $72.50 and potentially extending to $76.00 if momentum builds.
A bullish move would be supported by the price remaining above the $69.40 area, indicating strong demand at these levels.
However, if this support breaks, there could be a further downward move towards $67.60.
The target zones to watch on the upside are $72.50 and $76.00, with significant resistance around those levels.
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.