WTI/Oil 4h Technical Analysis during IranVSIsrael war
Despite Iran's attack on Israel, the prices of Brent and WTI crude oil remained stable. However, in the event of a reciprocal response from Israel to Iran within the next 24 hours, the price of oil is expected to make a significant upward jump from its long-term trend line.
Currently, the price of WTI crude oil is within its supportive range on the 4-hour timeframe, and last week, it broke above a long-term daily trend line, which is now being tested with a pullback and a bearish candle which can be a fake bearish sign by geopolitics issues!
The RSI is in a suitable range for buyers and playing around 44, so opening long positions on oil is the best decision at the moment.
Entry: CMP at 84.7 - 85 even
TP: 92.627
TP: 98.34
TP:106.52
TP: ATH Around 168
Currently, the price of WTI crude oil is within its supportive range on the 4-hour timeframe, and last week, it broke above a long-term daily trend line, which is now being tested with a pullback and a bearish candle which can be a fake bearish sign by geopolitics issues!
The RSI is in a suitable range for buyers and playing around 44, so opening long positions on oil is the best decision at the moment.
Entry: CMP at 84.7 - 85 even
TP: 92.627
TP: 98.34
TP:106.52
TP: ATH Around 168
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