WTI Light Crude Oil (18H) – Technical Analysis
1️⃣ Bullish Triangle Pattern
The chart forms a bullish triangle, with higher lows and a descending trendline. This indicates potential accumulation before an upward breakout.
2️⃣ Strong Support Level
The $68-$69 support zone, established in September, has held firm, showing strong buying interest and rejecting further downside.
3️⃣ Broken Resistance Line
The descending trendline has been broken, signaling a shift in momentum toward buyers.
4️⃣ Potential Uprise
The breakout suggests upside potential toward:
🟢 Target 1- $71.23
🟢 Target 2-$73.00
🟢 Target 3-$77.54
Got questions? Let me know!
The chart forms a bullish triangle, with higher lows and a descending trendline. This indicates potential accumulation before an upward breakout.
2️⃣ Strong Support Level
The $68-$69 support zone, established in September, has held firm, showing strong buying interest and rejecting further downside.
3️⃣ Broken Resistance Line
The descending trendline has been broken, signaling a shift in momentum toward buyers.
4️⃣ Potential Uprise
The breakout suggests upside potential toward:
🟢 Target 1- $71.23
🟢 Target 2-$73.00
🟢 Target 3-$77.54
Got questions? Let me know!
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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.
📈 6 years in the financial markets! Join my Telegram for exclusive insights.
Telegram Link: t.me/charts_M7M
Telegram Link: t.me/charts_M7M
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.